Cerity Partners LLC grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 110.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 462,671 shares of the business services provider's stock after buying an additional 242,353 shares during the period. Cerity Partners LLC owned 0.11% of Waste Management worth $107,113,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Waste Management by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after purchasing an additional 538,567 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Waste Management by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock valued at $1,654,173,000 after purchasing an additional 64,260 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Waste Management by 22.5% in the 4th 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 during the last quarter. Norges Bank purchased a new position in Waste Management during the 4th quarter worth approximately $1,009,726,000. Finally, Ameriprise Financial Inc. raised its position in Waste Management by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock worth $822,588,000 after buying an additional 224,279 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Scotiabank raised their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a research report on Friday, June 27th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Oppenheimer raised their price target on shares of Waste Management from $255.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $251.29.
View Our Latest Report on Waste Management
Insider Buying and Selling at Waste Management
In other Waste Management news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.
Waste Management Price Performance
WM traded up $0.25 on Friday, hitting $225.90. 1,696,881 shares of the company's stock were exchanged, compared to its average volume of 1,634,195. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The firm has a 50-day moving average price of $232.28 and a 200-day moving average price of $225.58. The stock has a market cap of $90.90 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 2.99 and a beta of 0.64.
Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter in the previous year, the company posted $1.75 EPS. The firm's quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.46%. Waste Management's dividend payout ratio (DPR) is presently 49.77%.
About Waste Management
(
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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