King Luther Capital Management Corp lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,059 shares of the business services provider's stock after selling 1,533 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Waste Management worth $59,049,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its holdings in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Transce3nd LLC bought a new stake in Waste Management in the 4th quarter worth $28,000. West Branch Capital LLC grew its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Adalta Capital Management LLC bought a new stake in Waste Management in the 4th quarter worth $40,000. Finally, New Age Alpha Advisors LLC bought a new stake in Waste Management in the 1st quarter worth $45,000. Hedge funds and other institutional investors own 80.40% of the company's stock.
Waste Management Stock Up 0.8%
Shares of Waste Management stock opened at $235.11 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market capitalization 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. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a 50-day simple moving average of $230.87 and a two-hundred day simple moving average of $228.96.
Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.
Waste Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's payout ratio is presently 48.96%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Melius began coverage on shares of Waste Management in a research note on Monday, June 9th. They set a "buy" rating on the stock. Oppenheimer lifted their target price on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $254.35.
Get Our Latest Analysis on Waste Management
Insider Activity at Waste Management
In other news, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business'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 transaction of $13,740,295.68. Following the transaction, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $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 insiders.
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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