Liberty One Investment Management LLC trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,716 shares of the business services provider's stock after selling 4,597 shares during the quarter. Waste Management accounts for 2.8% of Liberty One Investment Management LLC's portfolio, making the stock its 17th biggest holding. Liberty One Investment Management LLC's holdings in Waste Management were worth $27,715,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Waste Management by 41.7% in 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 in the last quarter. Calamos Advisors LLC increased its holdings in Waste Management by 2.8% in the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after buying an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Waste Management by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after buying an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Waste Management by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after buying an additional 958 shares in the last quarter. Institutional investors own 80.40% of the company's stock.
Insider Transactions at Waste Management
In other news, SVP Rafael Carrasco sold 674 shares of the firm'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 transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company's 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 sale, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.
Waste Management Price Performance
Shares of WM traded down $0.21 during mid-day trading on Thursday, hitting $225.54. 1,587,205 shares of the stock were exchanged, compared to its average volume of 1,631,336. The company has a market cap of $90.76 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.98 and a beta of 0.64. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The firm has a 50-day moving average of $232.60 and a two-hundred day moving average of $225.29. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83.
Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Announces Dividend
The company also recently disclosed 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. This represents a $3.30 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's payout ratio is 49.77%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on WM. Melius started coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. JPMorgan Chase & Co. upgraded 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 note on Friday, May 23rd. Robert W. Baird lifted their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. UBS Group lifted their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Eight research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $251.29.
Read Our Latest Stock Analysis on WM
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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