Schulhoff & Co. Inc. maintained its position in shares of Waste Management Inc. (NYSE:WM) during the second quarter, Holdings Channel reports. The fund owned 10,525 shares of the company’s stock at the end of the second quarter. Schulhoff & Co. Inc.’s holdings in Waste Management were worth $697,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Cribstone Capital Management LLC bought a new position in shares of Waste Management during the second quarter worth approximately $132,000. Financial Architects Inc raised its position in shares of Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares during the last quarter. Kanaly Trust Co raised its position in Waste Management by 4.1% in the second quarter. Kanaly Trust Co now owns 2,526 shares of the company’s stock valued at $167,000 after buying an additional 100 shares in the last quarter. Seven Eight Capital LLC acquired a new position in Waste Management during the first quarter valued at approximately $171,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Waste Management during the second quarter valued at approximately $208,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
Waste Management Inc. (NYSE:WM) traded down 0.18% during midday trading on Wednesday, hitting $62.43. 1,394,718 shares of the stock traded hands. The firm’s 50-day moving average is $63.22 and its 200-day moving average is $62.89. Waste Management Inc. has a 52-week low of $50.36 and a 52-week high of $70.50. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 24.40 and a beta of 0.62.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Waste Management Inc. will post $2.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Wednesday, September 7th. Waste Management’s dividend payout ratio is presently 63.81%.
Several equities analysts recently commented on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, September 27th. Macquarie started coverage on shares of Waste Management in a report on Thursday, August 25th. They set a “neutral” rating and a $69.00 target price on the stock. Wedbush lowered shares of Waste Management from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $73.00 to $68.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. Stifel Nicolaus raised shares of Waste Management from a “market weight” rating to an “overweight” rating in a report on Monday, June 27th. Finally, KeyCorp raised 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 report on Tuesday, August 9th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Waste Management has a consensus rating of “Hold” and a consensus target price of $66.77.
In related news, CFO James C. Fish, Jr. sold 7,400 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $66.59, for a total value of $492,766.00. Following the sale, the chief financial officer now owns 99,615 shares in the company, valued at $6,633,362.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don P. Carpenter sold 1,634 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $66.13, for a total transaction of $108,056.42. Following the completion of the sale, the vice president now owns 19,865 shares in the company, valued at approximately $1,313,672.45. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate 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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