NewEdge Advisors LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,928 shares of the business services provider’s stock after purchasing an additional 12,419 shares during the quarter. NewEdge Advisors LLC’s holdings in Waste Management were worth $23,609,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc boosted its position in Waste Management by 9.2% during the 2nd quarter. IFP Advisors Inc now owns 12,427 shares of the business services provider’s stock valued at $2,770,000 after purchasing an additional 1,049 shares during the period. Arizona State Retirement System grew its stake in Waste Management by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 111,800 shares of the business services provider’s stock worth $24,918,000 after buying an additional 1,394 shares during the last quarter. Waverly Advisors LLC increased its position in Waste Management by 6.7% in the second quarter. Waverly Advisors LLC now owns 132,053 shares of the business services provider’s stock worth $29,432,000 after buying an additional 8,347 shares during the period. Empirical Finance LLC lifted its stake in Waste Management by 3.4% in the second quarter. Empirical Finance LLC now owns 12,969 shares of the business services provider’s stock valued at $2,891,000 after buying an additional 429 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of Waste Management during the second quarter valued at $30,968,000. Institutional investors own 80.40% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on WM shares. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Citigroup boosted their target price on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Royal Bank Of Canada upped their target price on shares of Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Scotiabank raised their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Finally, Stifel Nicolaus lifted their price target on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.89.
Waste Management Stock Performance
WM stock opened at $214.56 on Friday. The company has a 50-day simple moving average of $227.81 and a 200 day simple moving average of $226.67. The company has a market capitalization of $85.76 billion, a P/E ratio of 30.39, a PEG ratio of 2.73 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.
Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.92 EPS. Sell-side analysts predict that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.
Waste Management Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.8%. Waste Management’s dividend payout ratio (DPR) is currently 53.54%.
Insider Transactions at Waste Management
In related news, CAO John Carroll sold 1,365 shares of Waste Management stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total transaction of $300,163.50. Following the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.
About Waste Management
WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.
Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.
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