Mcrae Capital Management Inc. lifted its holdings in Waste Management, Inc. (NYSE:WM) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,360 shares of the business services provider’s stock after buying an additional 203 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Waste Management were worth $765,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of WM. We Are One Seven LLC bought a new position in shares of Waste Management in the 4th quarter worth about $26,000. Larson Financial Group LLC bought a new stake in Waste Management in the 4th quarter valued at about $26,000. Executive Wealth Management LLC bought a new stake in Waste Management in the 4th quarter valued at about $26,000. Altshuler Shaham Ltd bought a new stake in Waste Management in the 4th quarter valued at about $27,000. Finally, Washington Trust Bank bought a new stake in Waste Management in the 1st quarter valued at about $28,000. Institutional investors own 75.74% of the company’s stock.
WM has been the topic of several recent research reports. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $103.00 in a research report on Thursday, January 10th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Monday, December 31st. Oppenheimer lifted their price objective on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Finally, KeyCorp assumed coverage on shares of Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and a consensus price target of $101.71.
Waste Management stock opened at $104.44 on Wednesday. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 2.75 and a beta of 0.67. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. Waste Management, Inc. has a 52 week low of $79.96 and a 52 week high of $105.68.
Waste Management (NYSE:WM) last released its earnings results on Thursday, February 14th. The business services provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. Waste Management’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, research analysts forecast that Waste Management, Inc. will post 4.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.5125 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.05 annualized dividend and a yield of 1.96%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In other news, Director Patrick W. Gross sold 365 shares of Waste Management stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total value of $33,955.95. Following the transaction, the director now owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steve Batchelor sold 707 shares of Waste Management stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.83, for a total transaction of $69,872.81. Following the completion of the transaction, the insider now directly owns 22,142 shares in the company, valued at approximately $2,188,293.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,092 shares of company stock worth $402,648. 0.14% of the stock is owned by corporate insiders.
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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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