Royal Fund Management LLC increased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 25.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,316 shares of the business services provider's stock after acquiring an additional 4,725 shares during the quarter. Royal Fund Management LLC's holdings in Waste Management were worth $4,044,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simmons Bank grew its holdings in Waste Management by 12.5% during the 1st quarter. Simmons Bank now owns 2,695 shares of the business services provider's stock valued at $440,000 after buying an additional 300 shares in the last quarter. TimeScale Financial Inc. purchased a new position in shares of Waste Management in the first quarter valued at $49,000. Caliber Wealth Management LLC grew its holdings in shares of Waste Management by 26.2% in the first quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 1,931 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Waste Management by 195.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 12,891 shares of the business services provider's stock valued at $2,103,000 after purchasing an additional 8,521 shares in the last quarter. Finally, Argent Trust Co grew its holdings in shares of Waste Management by 18.5% in the first quarter. Argent Trust Co now owns 15,258 shares of the business services provider's stock valued at $2,490,000 after purchasing an additional 2,378 shares in the last quarter. 78.34% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John C. Pope sold 198 shares of the firm's stock in a transaction on Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the transaction, the director now owns 56,147 shares in the company, valued at $9,455,154.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Waste Management news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the transaction, the director now owns 822 shares in the company, valued at $131,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Pope sold 198 shares of Waste Management stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the completion of the transaction, the director now owns 56,147 shares in the company, valued at approximately $9,455,154.80. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.
Waste Management Trading Down 0.1 %
Shares of NYSE:WM traded down $0.16 on Monday, hitting $160.32. 629,038 shares of the company's stock were exchanged, compared to its average volume of 1,589,341. Waste Management, Inc. has a 12 month low of $148.31 and a 12 month high of $173.71. The stock has a market capitalization of $64.94 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. The business's 50 day simple moving average is $161.99 and its two-hundred day simple moving average is $162.47. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.82 and a quick ratio of 0.78.
Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a return on equity of 33.81% and a net margin of 11.42%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter last year, the business posted $1.44 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 5.96 EPS for the current fiscal year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.80 annualized dividend and a dividend yield of 1.75%. Waste Management's dividend payout ratio is currently 50.36%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WM. BMO Capital Markets cut their target price on shares of Waste Management from $167.00 to $166.00 in a report on Thursday, July 27th. Citigroup cut their target price on shares of Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. HSBC initiated coverage on shares of Waste Management in a report on Friday. They issued a "buy" rating and a $192.00 target price for the company. StockNews.com initiated coverage on Waste Management in a research report on Thursday, August 17th. They issued a "buy" rating for the company. Finally, Raymond James lowered their price target on Waste Management from $185.00 to $179.00 and set an "outperform" rating for the company in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $180.25.
Read Our Latest Report on WM
Waste Management Company Profile
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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