Penserra Capital Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 259.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,448 shares of the business services provider's stock after acquiring an additional 2,489 shares during the quarter. Penserra Capital Management LLC's holdings in Waste Management were worth $797,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Waste Management in the 4th quarter valued at $1,009,726,000. GAMMA Investing LLC increased its holdings in Waste Management by 26,095.2% in the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after buying an additional 1,902,081 shares during the period. Capital Research Global Investors increased its holdings in Waste Management by 250.1% in the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after buying an additional 1,184,905 shares during the period. Parnassus Investments LLC increased its holdings in Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after buying an additional 1,151,237 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new stake in Waste Management in the 4th quarter valued at $205,506,000. Institutional investors own 80.40% of the company's stock.
Insider Activity at Waste Management
In other news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred 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 represents a 40.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction that occurred on 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 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. Corporate insiders own 0.18% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upgraded shares of 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. CIBC boosted their target price on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Finally, HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and upped their price target for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $251.29.
Read Our Latest Analysis on Waste Management
Waste Management Stock Down 0.0%
NYSE WM traded down $0.11 during trading hours on Friday, reaching $225.54. 720,777 shares of the company's stock were exchanged, compared to its average volume of 1,726,928. The company's 50-day moving average is $232.44 and its two-hundred day moving average is $225.44. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The company has a market capitalization of $90.76 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.99 and a beta of 0.64.
Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The business had revenue of $6.02 billion during 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%. Waste Management's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. On average, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.
Waste Management Announces Dividend
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 $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's payout ratio is presently 49.77%.
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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