Waste Management, Inc. $WM Shares Sold by Kimelman & Baird LLC

Key Points

• Kimelman & Baird reduced its Waste Management stake by 3.0%, selling 6,197 shares and retaining 200,490 shares worth approximately $44.7 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4.0% year over year to $6.68 billion, slightly below analyst expectations.
• The company declared a quarterly dividend of $0.945 per share, equivalent to an annualized $3.78 dividend and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89.

Kimelman & Baird LLC cut its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,490 shares of the business services provider's stock after selling 6,197 shares during the quarter. Waste Management makes up approximately 2.4% of Kimelman & Baird LLC's investment portfolio, making the stock its 16th largest position. Kimelman & Baird LLC owned approximately 0.05% of Waste Management worth $44,685,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. purchased a new position in shares of Waste Management during the 2nd quarter valued at approximately $77,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Waste Management during the second quarter worth $662,000. North Star Asset Management Inc. acquired a new stake in Waste Management during the second quarter valued at $218,000. Old North State Trust LLC purchased a new position in Waste Management in the second quarter valued at $367,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Waste Management in the second quarter worth about $31,805,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Up 1.0%

WM stock opened at $219.88 on Friday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The business's 50-day moving average is $228.60 and its 200 day moving average is $227.62. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The stock has a market cap of $87.89 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.75 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management's dividend payout ratio is presently 53.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WM shares. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Barclays upped their price target on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Oppenheimer dropped their price objective on Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. UBS Group upped their target price on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada increased their target price on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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