Entropy Technologies LP lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 14.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 25,802 shares of the business services provider's stock after selling 4,257 shares during the period. Entropy Technologies LP's holdings in Waste Management were worth $5,973,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in WM. Westend Capital Management LLC lifted its stake in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the period. West Branch Capital LLC lifted its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. Transce3nd LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter valued at approximately $45,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $40,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on WM. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a report on Monday, June 9th. UBS Group lifted their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Oppenheimer lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Scotiabank boosted their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $254.35.
Read Our Latest Analysis on WM
Insider Activity at Waste Management
In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents 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 Waste Management 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 transaction, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This 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 Stock Up 0.8%
Shares of NYSE WM opened at $235.11 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market cap of $94.71 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The business has a 50-day moving average price of $230.87 and a 200 day moving average price of $228.96. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.
Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company posted $1.82 earnings per share. The business's revenue was up 19.0% on a year-over-year basis. Equities research analysts forecast 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 given 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 1.4%. Waste Management's payout ratio is presently 48.96%.
Waste Management Profile
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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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