Smithfield Trust Co. lowered its holdings in Waste Management (NYSE:WM) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,002 shares of the business services provider’s stock after selling 2,980 shares during the quarter. Smithfield Trust Co.’s holdings in Waste Management were worth $336,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of WM. Peapack Gladstone Financial Corp boosted its position in Waste Management by 1.3% in the first quarter. Peapack Gladstone Financial Corp now owns 203,775 shares of the business services provider’s stock valued at $17,142,000 after buying an additional 2,555 shares in the last quarter. Toronto Dominion Bank boosted its position in Waste Management by 24.0% in the first quarter. Toronto Dominion Bank now owns 220,331 shares of the business services provider’s stock valued at $18,529,000 after buying an additional 42,683 shares in the last quarter. Chicago Capital LLC acquired a new position in Waste Management in the first quarter valued at about $555,000. Personal Capital Advisors Corp boosted its position in Waste Management by 22.6% in the first quarter. Personal Capital Advisors Corp now owns 240,180 shares of the business services provider’s stock valued at $20,204,000 after buying an additional 44,284 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Waste Management by 19.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 300,465 shares of the business services provider’s stock valued at $25,276,000 after buying an additional 47,966 shares in the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Nikolaj H. Sjoqvist sold 307 shares of the 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 transaction, the senior vice president now directly owns 18,756 shares in the company, valued at $1,589,758.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Barry H. Caldwell sold 10,844 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $84.00, for a total transaction of $910,896.00. Following the completion of the transaction, the senior vice president now owns 31,447 shares in the company, valued at $2,641,548. The disclosure for this sale can be found here. Insiders have sold 80,332 shares of company stock worth $6,942,542 over the last quarter. 0.30% of the stock is owned by company insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. Raymond James upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Friday, February 16th. UBS upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets reduced their target price on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 20th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.89.
Shares of Waste Management opened at $82.93 on Friday, Marketbeat reports. Waste Management has a 1 year low of $71.28 and a 1 year high of $89.73. The company has a market cap of $35.72 billion, a PE ratio of 25.75, a P/E/G ratio of 1.70 and a beta of 0.70. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47.
Waste Management (NYSE:WM) last announced its earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business earned $0.66 earnings per share. Waste Management’s quarterly revenue was up 2.1% on a year-over-year basis. research analysts predict 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. Stockholders of record on Friday, June 8th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.24%. Waste Management’s payout ratio is 57.76%.
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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