Scott & Selber Inc. purchased a new stake in Waste Management Inc. (NYSE:WM) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 43,211 shares of the company’s stock, valued at approximately $2,864,000. Waste Management comprises approximately 1.9% of Scott & Selber Inc.’s holdings, making the stock its 23rd largest position.
Other large investors also recently modified their holdings of the company. Cribstone Capital Management LLC acquired a new stake in Waste Management during the second quarter worth approximately $132,000. Financial Architects Inc increased its stake in 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 period. Kanaly Trust Co increased its stake in Waste Management by 4.1% in the second quarter. Kanaly Trust Co now owns 2,526 shares of the company’s stock worth $167,000 after buying an additional 100 shares during the period. Seven Eight Capital LLC acquired a new stake in Waste Management during the first quarter worth approximately $171,000. Finally, Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Waste Management during the second quarter worth approximately $208,000. 75.10% of the stock is owned by hedge funds and other institutional investors.
Waste Management Inc. (NYSE:WM) traded down 0.16% during mid-day trading on Tuesday, reaching $62.54. The company’s stock had a trading volume of 941,125 shares. The firm has a 50-day moving average of $63.27 and a 200 day moving average of $62.87. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 24.44 and a beta of 0.62. Waste Management Inc. has a 1-year low of $50.36 and a 1-year high of $70.50.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The business earned $3.43 billion during the quarter, compared to analyst estimates of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities analysts expect that Waste Management Inc. will post $2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.41 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 annualized dividend and a dividend yield of 2.62%. Waste Management’s dividend payout ratio (DPR) is 63.81%.
WM has been the subject of a number of recent analyst reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Friday, August 5th. Stifel Nicolaus restated a “buy” rating and issued a $75.00 price target (up previously from $70.00) on shares of Waste Management in a research report on Monday, July 18th. Argus restated a “buy” rating and issued a $72.00 price target on shares of Waste Management in a research report on Wednesday, August 10th. Barclays PLC cut Waste Management from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $66.00 to $70.00 in a research report on Tuesday, August 9th. Finally, KeyCorp restated a “hold” rating on shares of Waste Management in a research report on Thursday, July 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $66.77.
In other news, VP Don P. Carpenter sold 1,634 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $66.13, for a total value of $108,056.42. Following the completion of the sale, the vice president now owns 19,865 shares in the company, valued at $1,313,672.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James C. Fish, Jr. sold 7,400 shares of the company’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 completion of the sale, the chief financial officer now owns 99,615 shares of the company’s stock, valued at approximately $6,633,362.85. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.
About Waste Management
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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