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Bleakley Financial Group LLC Grows Position in Waste Management, Inc. (NYSE:WM)

Waste Management logo with Business Services background

Bleakley Financial Group LLC lifted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 23.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,498 shares of the business services provider's stock after acquiring an additional 3,162 shares during the period. Bleakley Financial Group LLC's holdings in Waste Management were worth $3,819,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Waste Management in the fourth quarter valued at approximately $1,009,726,000. GAMMA Investing LLC lifted its holdings in Waste Management by 26,095.2% in the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after acquiring an additional 1,902,081 shares during the period. Capital Research Global Investors lifted its holdings in Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after acquiring an additional 1,184,905 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $205,506,000. Finally, Vanguard Group Inc. lifted its holdings in Waste Management by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after acquiring an additional 538,567 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WM shares. UBS Group boosted their price target on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Robert W. Baird boosted their price target on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup boosted their price target on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a research note on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $251.29.

Get Our Latest Stock Analysis on Waste Management

Waste Management Price Performance

NYSE WM traded up $1.32 during mid-day trading on Friday, hitting $227.02. The stock had a trading volume of 1,055,611 shares, compared to its average volume of 1,720,302. The firm's 50 day moving average is $231.66 and its 200 day moving average is $226.21. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The stock has a market capitalization of $91.36 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.80 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's payout ratio is currently 49.77%.

Insider Buying and Selling at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Waste Management Company Profile

(Free Report)

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.

See Also

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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