Oppenheimer & Co. Inc. trimmed its position in Waste Management, Inc. (NYSE:WM - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,587 shares of the business services provider's stock after selling 7,996 shares during the period. Oppenheimer & Co. Inc.'s holdings in Waste Management were worth $25,370,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Mission Wealth Management LP lifted its stake in Waste Management by 811.1% in the 4th quarter. Mission Wealth Management LP now owns 9,102 shares of the business services provider's stock worth $1,837,000 after purchasing an additional 8,103 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake 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 purchasing an additional 24,023 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Waste Management by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 34,617 shares of the business services provider's stock worth $6,985,000 after purchasing an additional 10,936 shares in the last quarter. Finally, Fjell Capital LLC purchased a new position in Waste Management in the 4th quarter worth approximately $1,124,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.
Waste Management Stock Performance
Shares of NYSE:WM traded down $0.31 on Tuesday, reaching $234.40. The company's stock had a trading volume of 1,576,697 shares, compared to its average volume of 1,617,750. The stock's 50-day moving average is $233.18 and its two-hundred day moving average is $224.20. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The stock has a market capitalization of $94.33 billion, a P/E ratio of 35.36, a PEG ratio of 3.10 and a beta of 0.66.
Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.41%. Waste Management's payout ratio is currently 49.77%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Citigroup lifted their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their price target on shares of Waste Management from $227.00 to $229.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and lifted their target price for the company from $210.00 to $265.00 in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $248.00.
View Our Latest Report on WM
Insiders Place Their Bets
In other news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares in the company, valued at $3,917,311.02. This represents a 3.91% 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.
Waste Management Profile
(
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.
Further Reading
Before you consider Waste Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Management wasn't on the list.
While Waste Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
