Capital Advisors Inc. OK lifted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,027 shares of the business services provider's stock after buying an additional 7,828 shares during the quarter. Capital Advisors Inc. OK's holdings in Waste Management were worth $38,668,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after buying an additional 538,567 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Waste Management by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock worth $1,654,173,000 after buying an additional 64,260 shares in the last quarter. Parnassus Investments LLC boosted its position in Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after purchasing an additional 1,151,237 shares in the last quarter. Norges Bank bought a new stake in Waste Management during the fourth quarter valued at about $1,009,726,000. Finally, Ameriprise Financial Inc. boosted its position in Waste Management by 5.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after purchasing an additional 224,279 shares in the last quarter. Institutional investors own 80.40% of the company's stock.
Waste Management Trading Up 1.4%
Shares of NYSE:WM opened at $226.43 on Monday. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The stock has a market cap of $91.12 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.00 and a beta of 0.64. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. The business has a 50-day moving average price of $232.87 and a 200-day moving average price of $225.14.
Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. Waste Management's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $1.75 earnings per share. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is 49.77%.
Insider Activity
In related news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on WM shares. Scotiabank raised their price objective on Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a research report on Friday, June 27th. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a research report on Monday, June 9th. CIBC raised their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Oppenheimer increased their price target on Waste Management from $251.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $251.00.
Get Our Latest Stock Report on WM
Waste Management 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.
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