CX Institutional cut its stake in Waste Management, Inc. (NYSE:WM) by 52.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,617 shares of the business services provider’s stock after selling 20,536 shares during the quarter. CX Institutional’s holdings in Waste Management were worth $2,402,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Childress Capital Advisors LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $26,000. Annapolis Financial Services LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $27,000. Oder Investment Management LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $28,000. RWM Asset Management LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. Finally, Hoover Financial Advisors Inc. bought a new position in shares of Waste Management in the fourth quarter valued at approximately $30,000. 71.42% of the stock is owned by hedge funds and other institutional investors.
WM has been the subject of several recent analyst reports. Raymond James upped their target price on Waste Management from $125.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 12th. Morgan Stanley reduced their price objective on Waste Management from $122.00 to $121.00 and set an “equal weight” rating for the company in a report on Thursday, February 25th. Robert W. Baird lowered Waste Management from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $128.00 to $122.00 in a report on Tuesday, February 16th. Finally, The Goldman Sachs Group initiated coverage on Waste Management in a report on Tuesday, April 13th. They set a “buy” rating and a $145.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Waste Management presently has a consensus rating of “Hold” and a consensus price target of $122.58.
NYSE WM opened at $135.05 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $57.00 billion, a PE ratio of 35.73, a PEG ratio of 4.70 and a beta of 0.72. Waste Management, Inc. has a 1 year low of $94.13 and a 1 year high of $135.59. The business’s 50-day moving average is $124.42 and its 200 day moving average is $117.88.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, February 18th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.06. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.98 billion. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. As a group, equities research analysts anticipate that Waste Management, Inc. will post 3.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were given a dividend of $0.575 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 11th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.70%. Waste Management’s payout ratio is presently 52.27%.
In other news, Director Frank M. Clark sold 301 shares of the business’s stock in a transaction on Thursday, January 21st. The shares were sold at an average price of $114.14, for a total transaction of $34,356.14. Following the completion of the sale, the director now owns 33,004 shares of the company’s stock, valued at approximately $3,767,076.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Nikolaj H. Sjoqvist sold 1,391 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $111.51, for a total transaction of $155,110.41. Following the sale, the senior vice president now directly owns 39,769 shares of the company’s stock, valued at approximately $4,434,641.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,683 shares of company stock valued at $3,765,485. Insiders own 0.16% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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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