Janney Montgomery Scott LLC decreased its stake in Waste Management Inc. (NYSE:WM) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 130,758 shares of the company’s stock after selling 21,520 shares during the period. Janney Montgomery Scott LLC’s holdings in Waste Management were worth $6,979,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Capstone Asset Management Co. raised its stake in Waste Management by 23.8% in the first quarter. Capstone Asset Management Co. now owns 49,026 shares of the company’s stock worth $2,893,000 after buying an additional 9,410 shares during the last quarter. UMB Bank N A MO raised its stake in Waste Management by 81.0% in the first quarter. UMB Bank N A MO now owns 10,280 shares of the company’s stock worth $607,000 after buying an additional 4,600 shares during the last quarter. OLD National Bancorp IN raised its stake in Waste Management by 15.5% in the first quarter. OLD National Bancorp IN now owns 19,869 shares of the company’s stock worth $1,172,000 after buying an additional 2,668 shares during the last quarter. Lodestar Investment Counsel LLC IL purchased a new stake in Waste Management during the first quarter worth $254,000. Finally, Douglas Lane & Associates LLC purchased a new stake in Waste Management during the first quarter worth $893,000. 75.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management Inc. (NYSE:WM) traded down 0.8594% during midday trading on Friday, hitting $63.4599. The company had a trading volume of 1,388,601 shares. Waste Management Inc. has a 12 month low of $48.98 and a 12 month high of $70.50. The stock’s 50-day moving average price is $64.57 and its 200-day moving average price is $62.31. The company has a market cap of $28.07 billion, a price-to-earnings ratio of 24.7987 and a beta of 0.58.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the company posted $0.67 EPS. Waste Management’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Waste Management Inc. will post $2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, September 7th. Waste Management’s payout ratio is 63.81%.
A number of analysts recently weighed in on WM shares. KeyCorp upgraded shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 target price on the stock in a research note on Tuesday, August 9th. Wedbush reiterated an “outperform” rating and issued a $73.00 price target on shares of Waste Management in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Macquarie started coverage on shares of Waste Management in a research note on Thursday, August 25th. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, Argus reiterated a “buy” rating and issued a $72.00 price target on shares of Waste Management in a research note on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.34.
In other Waste Management news, Director Thomas H. Weidemeyer sold 449 shares of the company’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $67.58, for a total value of $30,343.42. Following the transaction, the director now directly owns 24,383 shares of the company’s stock, valued at approximately $1,647,803.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Puneet Bhasin sold 11,236 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $65.81, for a total value of $739,441.16. Following the completion of the transaction, the executive vice president now directly owns 44,431 shares in the company, valued at $2,924,004.11. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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