Quantitative Systematic Strategies LLC purchased a new position in Waste Management (NYSE:WM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,054 shares of the business services provider’s stock, valued at approximately $257,000.
Several other institutional investors have also made changes to their positions in the business. MHI Funds LLC bought a new position in shares of Waste Management during the fourth quarter worth about $184,000. Cerebellum GP LLC bought a new position in Waste Management in the fourth quarter valued at approximately $186,000. FTB Advisors Inc. grew its stake in Waste Management by 44.2% in the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares in the last quarter. Gradient Investments LLC bought a new position in Waste Management in the fourth quarter valued at approximately $197,000. Finally, WealthPLAN Partners LLC bought a new position in Waste Management in the fourth quarter valued at approximately $201,000. Institutional investors own 77.10% of the company’s stock.
In other news, SVP Nikolaj H. Sjoqvist sold 307 shares of the firm’s stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $84.76, for a total value of $26,021.32. Following the completion of the sale, the senior vice president now directly owns 18,756 shares of the company’s stock, valued at $1,589,758.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff M. Harris sold 60,088 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $86.67, for a total value of $5,207,826.96. Following the completion of the sale, the vice president now directly owns 80,203 shares of the company’s stock, valued at $6,951,194.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,200 shares of company stock valued at $9,649,308. Insiders own 0.30% of the company’s stock.
A number of research firms have weighed in on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. BMO Capital Markets decreased their price target on Waste Management from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. UBS began coverage on Waste Management in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price target for the company. Finally, Raymond James upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Friday, February 16th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $90.89.
Waste Management opened at $81.48 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $35.14 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.67 and a beta of 0.70. Waste Management has a twelve month low of $70.08 and a twelve month high of $89.73.
Waste Management (NYSE:WM) last released its quarterly earnings data on Friday, April 20th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. Waste Management had a return on equity of 26.73% and a net margin of 14.06%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. research analysts predict that Waste Management will post 4.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.28%. Waste Management’s payout ratio is 57.76%.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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