Stratos Wealth Partners LTD. lifted its holdings in Waste Management, Inc. (NYSE:WM) by 18.6% in the 1st quarter, HoldingsChannel reports. The fund owned 8,110 shares of the business services provider’s stock after buying an additional 1,270 shares during the period. Stratos Wealth Partners LTD.’s holdings in Waste Management were worth $843,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Waste Management in the 4th quarter valued at about $402,210,000. Oregon Public Employees Retirement Fund increased its position in Waste Management by 8,644.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,823,989 shares of the business services provider’s stock valued at $43,000 after buying an additional 3,780,259 shares in the last quarter. Bessemer Group Inc. increased its position in Waste Management by 695.7% in the 4th quarter. Bessemer Group Inc. now owns 1,337,530 shares of the business services provider’s stock valued at $119,027,000 after buying an additional 1,169,429 shares in the last quarter. BlackRock Inc. increased its position in Waste Management by 3.3% in the 4th quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock valued at $2,817,372,000 after buying an additional 1,025,813 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Waste Management by 33.9% in the 4th quarter. California Public Employees Retirement System now owns 2,519,189 shares of the business services provider’s stock valued at $224,183,000 after buying an additional 637,655 shares in the last quarter. 75.84% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Watson sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the transaction, the vice president now owns 9,518 shares in the company, valued at approximately $995,106.90. The disclosure for this sale can be found here. Insiders have sold a total of 43,811 shares of company stock valued at $4,657,346 over the last three months. Corporate insiders own 0.14% of the company’s stock.
A number of brokerages recently commented on WM. Oppenheimer boosted their target price on Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $106.00 in a research report on Thursday, April 4th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. KeyCorp began coverage on Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price for the company. Finally, Royal Bank of Canada began coverage on Waste Management in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $105.22.
WM traded up $0.89 during midday trading on Tuesday, reaching $109.29. 16,821 shares of the company were exchanged, compared to its average volume of 1,740,558. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.69. The firm has a market capitalization of $45.75 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.93 and a beta of 0.67. Waste Management, Inc. has a one year low of $79.96 and a one year high of $108.92.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, equities analysts forecast that Waste Management, Inc. will post 4.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, June 6th. Waste Management’s dividend payout ratio is currently 48.81%.
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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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