Flossbach Von Storch SE bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,365 shares of the business services provider's stock, valued at approximately $316,000.
Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Golden State Wealth Management LLC grew its stake in Waste Management by 41.7% during the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after buying an additional 232 shares during the last quarter. Calamos Advisors LLC grew its stake in shares of Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after purchasing an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after buying an additional 958 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Waste Management Price Performance
NYSE:WM traded up $0.25 during trading hours on Friday, reaching $225.90. The company had a trading volume of 1,696,881 shares, compared to its average volume of 1,632,310. The stock has a 50-day moving average of $232.44 and a two-hundred day moving average of $225.44. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The firm has a market capitalization of $90.90 billion, a PE ratio of 34.07, a PEG ratio of 2.99 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.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. Analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is presently 49.77%.
Analysts Set New Price Targets
WM has been the subject of several analyst reports. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a report on Monday, June 9th. Melius began coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. Robert W. Baird raised their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Citigroup upped their target price on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $251.29.
Read Our Latest Analysis on Waste Management
Insider Transactions at Waste Management
In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares in the company, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated 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 owned 83,934 shares of the company's stock, valued at $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. Corporate insiders own 0.18% of the company's stock.
Waste Management Company 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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