Whittier Trust Co. of Nevada Inc. increased its stake in shares of Waste Management Inc. (NYSE:WM) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 6,946 shares of the company’s stock after buying an additional 325 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Waste Management were worth $460,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. State Street Corp boosted its position in Waste Management by 1.4% in the first quarter. State Street Corp now owns 19,685,224 shares of the company’s stock valued at $1,161,440,000 after buying an additional 279,670 shares during the period. Wellington Management Group LLP raised its stake in shares of Waste Management by 2.7% in the first quarter. Wellington Management Group LLP now owns 7,836,448 shares of the company’s stock worth $462,350,000 after buying an additional 203,375 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Waste Management by 1.8% in the first quarter. Geode Capital Management LLC now owns 3,440,451 shares of the company’s stock worth $202,578,000 after buying an additional 61,530 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Waste Management by 1.1% in the first quarter. Legal & General Group Plc now owns 2,270,195 shares of the company’s stock worth $133,982,000 after buying an additional 25,631 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Waste Management by 111.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,355,874 shares of the company’s stock worth $89,856,000 after buying an additional 714,291 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.
Shares of Waste Management Inc. (NYSE:WM) traded up 0.729% during trading on Monday, hitting $62.734. 719,314 shares of the stock traded hands. The stock has a market cap of $27.75 billion, a price-to-earnings ratio of 24.515 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. The stock has a 50 day moving average price of $63.73 and a 200-day moving average price of $62.71.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The company earned $3.43 billion during the quarter, compared to the consensus estimate of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Equities analysts forecast 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 payout ratio is currently 63.81%.
WM has been the topic of a number of research reports. KeyCorp raised shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective on the stock in a research report on Tuesday, August 9th. Wedbush reissued an “outperform” rating and issued a $73.00 price objective on shares of Waste Management in a research report on Thursday, July 28th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, September 27th. Macquarie initiated coverage on shares of Waste Management in a research report on Thursday, August 25th. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Argus reissued a “buy” rating and issued a $72.00 price objective on shares of Waste Management in a research report on Wednesday, August 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management has an average rating of “Buy” and an average target price of $67.13.
In other Waste Management news, Director Thomas H. Weidemeyer sold 449 shares of Waste Management stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $67.58, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Don P. Carpenter sold 1,634 shares of Waste Management 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 transaction, the vice president now directly owns 19,865 shares in the company, valued at $1,313,672.45. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate 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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