Cerebellum GP LLC lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 25.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,154 shares of the business services provider’s stock after selling 748 shares during the quarter. Cerebellum GP LLC’s holdings in Waste Management were worth $175,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in WM. Koch Industries Inc. grew its stake in shares of Waste Management by 24.8% during the first quarter. Koch Industries Inc. now owns 9,586 shares of the business services provider’s stock worth $806,000 after purchasing an additional 1,904 shares during the period. Franklin Resources Inc. grew its stake in shares of Waste Management by 27.5% during the fourth quarter. Franklin Resources Inc. now owns 12,935 shares of the business services provider’s stock worth $1,116,000 after purchasing an additional 2,793 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $10,667,000. Sei Investments Co. grew its stake in shares of Waste Management by 28.7% during the first quarter. Sei Investments Co. now owns 405,929 shares of the business services provider’s stock worth $34,147,000 after purchasing an additional 90,458 shares during the period. Finally, Glenmede Trust Co. NA grew its stake in shares of Waste Management by 3.7% during the fourth quarter. Glenmede Trust Co. NA now owns 45,451 shares of the business services provider’s stock worth $3,921,000 after purchasing an additional 1,620 shares during the period. Institutional investors own 75.06% of the company’s stock.
Waste Management opened at $82.29 on Friday, Marketbeat reports. Waste Management, Inc. has a 1 year low of $73.48 and a 1 year high of $89.73. 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 stock has a market capitalization of $35.19 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.68 and a beta of 0.69.
Waste Management (NYSE:WM) last posted its earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. Waste Management had a return on equity of 26.73% and a net margin of 14.06%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. equities research analysts anticipate that Waste Management, Inc. will post 4.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 22nd. Shareholders of record on Friday, June 8th were paid a $0.465 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $1.86 dividend on an annualized basis and a yield of 2.26%. Waste Management’s payout ratio is 57.76%.
A number of brokerages recently commented on WM. UBS Group began coverage on Waste Management in a research note on Wednesday, March 14th. They set a “neutral” rating and a $93.00 price objective for the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Finally, BMO Capital Markets decreased their price objective 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $90.89.
In other Waste Management news, SVP Barry H. Caldwell sold 10,844 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $84.00, for a total value of $910,896.00. Following the completion of the transaction, the senior vice president now directly owns 31,447 shares of the company’s stock, valued at $2,641,548. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nikolaj H. Sjoqvist sold 307 shares of the business’s stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $84.76, for a total value of $26,021.32. Following the completion of the transaction, the senior vice president now directly owns 18,756 shares of the company’s stock, valued at $1,589,758.56. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
Waste Management Profile
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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