Miller Howard Investments Inc. NY increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 31.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,007 shares of the business services provider's stock after acquiring an additional 9,155 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Waste Management were worth $8,799,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Waste Management by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after buying an additional 538,567 shares during the period. Geode Capital Management LLC grew its position in shares of Waste Management by 0.8% in the fourth 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 in the last quarter. Parnassus Investments LLC grew its position in shares of Waste Management by 22.5% in the fourth 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 in the last quarter. Norges Bank purchased a new position in Waste Management during the fourth quarter worth about $1,009,726,000. Finally, Ameriprise Financial Inc. grew its position in Waste Management by 5.8% during the fourth 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 in the last quarter. 80.40% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on WM shares. Robert W. Baird boosted their target price on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. CIBC lifted their price target on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. BMO Capital Markets boosted their target price on Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $251.00.
Get Our Latest Research Report on WM
Insiders Place Their Bets
In other Waste Management news, 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 completion of the sale, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction on 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 of the company's stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Waste Management Stock Up 1.4%
Shares of WM stock traded up $3.04 during midday trading on Friday, reaching $226.43. 1,525,978 shares of the stock were exchanged, compared to its average volume of 1,625,583. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $242.58. The company's 50 day moving average is $232.87 and its two-hundred day moving average is $224.87. 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 market cap of $91.12 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.64.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter last year, the company earned $1.75 EPS. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. 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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