Robeco Schweiz AG increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 360,350 shares of the business services provider's stock after acquiring an additional 59,703 shares during the period. Waste Management accounts for about 2.1% of Robeco Schweiz AG's holdings, making the stock its 11th largest position. Robeco Schweiz AG owned about 0.09% of Waste Management worth $83,425,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Seamount Financial Group Inc. grew its holdings in Waste Management by 1.9% in the 1st quarter. Seamount Financial Group Inc. now owns 3,791 shares of the business services provider's stock valued at $878,000 after buying an additional 71 shares during the last quarter. Cerity Partners LLC grew its holdings in Waste Management by 110.0% in the 1st quarter. Cerity Partners LLC now owns 462,671 shares of the business services provider's stock valued at $107,113,000 after buying an additional 242,353 shares during the last quarter. Correct Capital Wealth Management lifted its position in shares of Waste Management by 12.8% in the 1st quarter. Correct Capital Wealth Management now owns 10,591 shares of the business services provider's stock worth $2,452,000 after acquiring an additional 1,201 shares during the period. Vision Capital Management Inc. bought a new stake in shares of Waste Management in the 1st quarter worth approximately $649,000. Finally, Alps Advisors Inc. lifted its position in shares of Waste Management by 15.6% in the 1st quarter. Alps Advisors Inc. now owns 19,164 shares of the business services provider's stock worth $4,437,000 after acquiring an additional 2,582 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.
Waste Management Price Performance
WM stock traded up $0.25 during midday trading on Friday, reaching $225.90. 1,696,881 shares of the company's stock traded hands, compared to its average volume of 1,634,195. The company has a 50-day simple moving average of $232.44 and a two-hundred day simple moving average of $225.44. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The company has a market cap of $90.90 billion, a price-to-earnings 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 released its quarterly earnings results 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. The firm 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%. The business's revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.75 EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. Waste Management's dividend payout ratio (DPR) is currently 49.77%.
Insider Buying and Selling at Waste Management
In other news, 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. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction on Tuesday, May 27th. The shares were 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 directly 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. 0.18% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts have commented on WM shares. Melius started coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. CIBC raised their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. BMO Capital Markets raised their price objective on Waste Management from $241.00 to $245.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Finally, HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and raised their target price for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $251.29.
View Our Latest Research Report on Waste Management
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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