Silvant Capital Management LLC purchased a new position in shares of Waste Management (NYSE:WM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,633 shares of the business services provider’s stock, valued at approximately $3,081,000.
Several other hedge funds have also recently added to or reduced their stakes in WM. Atria Investments LLC boosted its position in Waste Management by 8.1% in the 4th quarter. Atria Investments LLC now owns 16,818 shares of the business services provider’s stock valued at $1,451,000 after buying an additional 1,256 shares during the period. Creative Planning boosted its position in Waste Management by 10.6% in the 4th quarter. Creative Planning now owns 69,624 shares of the business services provider’s stock valued at $6,009,000 after buying an additional 6,652 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Waste Management by 2.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,434,297 shares of the business services provider’s stock valued at $123,780,000 after buying an additional 31,179 shares during the period. Fox Run Management L.L.C. purchased a new stake in Waste Management in the 4th quarter valued at about $700,000. Finally, State of Alaska Department of Revenue boosted its position in Waste Management by 268.3% in the 4th quarter. State of Alaska Department of Revenue now owns 69,568 shares of the business services provider’s stock valued at $6,000,000 after buying an additional 50,680 shares during the period. 77.10% of the stock is owned by hedge funds and other institutional investors.
Shares of WM opened at $81.48 on Friday. Waste Management has a fifty-two week low of $70.08 and a fifty-two week high of $89.73. The company has a market capitalization of $35.14 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.74 and a quick ratio of 0.71.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.09. Waste Management had a net margin of 14.06% and a return on equity of 26.73%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. equities analysts expect that Waste Management will post 4.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.86 annualized dividend and a dividend yield of 2.28%. Waste Management’s payout ratio is presently 57.76%.
Several research firms have issued reports on WM. BMO Capital Markets lowered their price objective on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, April 20th. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. UBS began coverage on shares of Waste Management in a research report on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price objective for the company. Finally, Raymond James raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Waste Management has a consensus rating of “Buy” and a consensus target price of $90.89.
In other news, SVP Nikolaj H. Sjoqvist sold 307 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 18,756 shares of the company’s stock, valued at approximately $1,589,758.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Barry H. Caldwell sold 13,614 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.08, for a total transaction of $1,158,279.12. Following the completion of the sale, the senior vice president now directly owns 33,837 shares of the company’s stock, valued at approximately $2,878,851.96. The disclosure for this sale can be found here. Insiders sold a total of 112,200 shares of company stock valued at $9,649,308 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.
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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