Teacher Retirement System of Texas Has $47.57 Million Stake in Waste Management (WM)

Teacher Retirement System of Texas grew its stake in shares of Waste Management (NYSE:WM) by 123.3% in the 1st quarter, Holdings Channel reports. The firm owned 565,462 shares of the business services provider’s stock after acquiring an additional 312,231 shares during the quarter. Teacher Retirement System of Texas’ holdings in Waste Management were worth $47,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MHI Funds LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at $184,000. Cerebellum GP LLC acquired a new position in Waste Management in the 4th quarter worth about $186,000. Focused Wealth Management Inc increased its position in Waste Management by 2,156.9% in the 1st quarter. Focused Wealth Management Inc now owns 2,302 shares of the business services provider’s stock worth $194,000 after purchasing an additional 2,200 shares during the last quarter. FTB Advisors Inc. increased its position in Waste Management by 44.2% in the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock worth $197,000 after purchasing an additional 700 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in Waste Management in the 4th quarter worth about $197,000. 77.10% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Barry H. Caldwell sold 1,840 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.10, for a total transaction of $154,744.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeff M. Harris sold 8,820 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the sale, the vice president now directly owns 80,203 shares of the company’s stock, valued at $7,041,823.40. The disclosure for this sale can be found here. Insiders have sold a total of 117,055 shares of company stock valued at $10,057,579 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on WM shares. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Sunday, January 21st. UBS raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Raymond James raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a report on Friday, February 16th. Finally, BMO Capital Markets lowered their price objective on Waste Management from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $90.89.

NYSE:WM traded up $0.19 during mid-day trading on Wednesday, hitting $82.37. 8,404 shares of the company’s stock traded hands, compared to its average volume of 2,352,755. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.47. Waste Management has a 12 month low of $82.14 and a 12 month high of $82.50. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.70 and a beta of 0.70.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Friday, April 20th. The business services provider reported $0.91 EPS for the quarter, topping 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 the consensus estimate of $3.57 billion. During the same quarter last year, the company earned $0.66 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. analysts anticipate that Waste Management will post 4.02 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, June 8th will be given a dividend of $0.465 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.86 annualized dividend and a dividend yield of 2.26%. Waste Management’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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