Cullen Frost Bankers Inc. cut its stake in shares of Waste Management Inc. (NYSE:WM) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,226 shares of the company’s stock after selling 147 shares during the period. Cullen Frost Bankers Inc.’s holdings in Waste Management were worth $413,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virginia Retirement System purchased a new position in Waste Management during the first quarter valued at approximately $6,634,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Waste Management by 4.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,061,386 shares of the company’s stock valued at $62,622,000 after buying an additional 47,190 shares in the last quarter. Ngam Advisors L.P. increased its position in Waste Management by 14.8% in the first quarter. Ngam Advisors L.P. now owns 27,245 shares of the company’s stock valued at $1,608,000 after buying an additional 3,521 shares in the last quarter. Teachers Advisors Inc. increased its position in Waste Management by 3.2% in the first quarter. Teachers Advisors Inc. now owns 621,958 shares of the company’s stock valued at $36,696,000 after buying an additional 19,467 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Waste Management by 11.2% in the first quarter. Stratos Wealth Partners LTD. now owns 14,311 shares of the company’s stock valued at $844,000 after buying an additional 1,445 shares in the last quarter. 75.21% of the stock is owned by hedge funds and other institutional investors.
Waste Management Inc. (NYSE:WM) traded up 0.77% during trading on Friday, reaching $63.76. The company had a trading volume of 2,471,686 shares. The firm’s 50 day moving average is $64.15 and its 200-day moving average is $62.56. Waste Management Inc. has a 12 month low of $50.36 and a 12 month high of $70.50. The company has a market capitalization of $28.20 billion, a P/E ratio of 24.92 and a beta of 0.58.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. Waste Management’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, 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. Investors of record on Friday, September 9th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.57%. Waste Management’s dividend payout ratio is presently 63.81%.
Several research analysts recently commented on WM shares. Stifel Nicolaus raised Waste Management from a “market weight” rating to an “overweight” rating in a research note on Monday, June 27th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, June 29th. KeyCorp reissued a “hold” rating on shares of Waste Management in a research note on Thursday, July 14th. Wedbush restated an “outperform” rating and issued a $73.00 target price on shares of Waste Management in a report on Thursday, July 28th. Finally, Imperial Capital upped their target price on Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a report on Friday, July 29th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.13.
In related news, Director Frank M. Clark sold 449 shares of Waste Management stock in a transaction on Monday, July 18th. The stock was sold at an average price of $67.21, for a total transaction of $30,177.29. Following the completion of the transaction, the director now directly owns 29,084 shares of the company’s stock, valued at $1,954,735.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James C. Fish, Jr. sold 7,400 shares of Waste Management stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $66.59, for a total value of $492,766.00. Following the transaction, the chief financial officer now directly owns 99,615 shares of the company’s stock, valued at $6,633,362.85. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
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.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.