PFG Investments LLC increased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 114.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,792 shares of the business services provider's stock after purchasing an additional 3,621 shares during the period. PFG Investments LLC's holdings in Waste Management were worth $1,448,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its position in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider's stock valued at $25,000 after buying an additional 75 shares during the last quarter. Sachetta LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $27,000. Gilfoyle & Co LLC acquired a new stake in shares of Waste Management in the fourth quarter worth $30,000. Millburn Ridgefield Corp purchased a new position in shares of Waste Management during the third quarter worth $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in Waste Management during the first quarter valued at $35,000. Hedge funds and other institutional investors own 80.40% of the company's stock.
Waste Management Price Performance
Shares of Waste Management stock traded down $2.60 during mid-day trading on Friday, reaching $210.10. 1,650,808 shares of the stock traded hands, compared to its average volume of 1,589,993. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business has a 50-day moving average of $208.54 and a 200 day moving average of $187.08. The stock has a market capitalization of $84.31 billion, a PE ratio of 34.39, a PEG ratio of 3.23 and a beta of 0.72. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $214.54.
Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. On average, analysts predict that Waste Management, Inc. will post 6.88 EPS for the current year.
Waste Management Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This is a boost from Waste Management's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Thursday, March 14th. Waste Management's payout ratio is currently 49.10%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on WM shares. Morgan Stanley lifted their price objective on Waste Management from $202.00 to $214.00 and gave the company an "equal weight" rating in a research note on Friday. StockNews.com raised Waste Management from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 9th. Royal Bank of Canada raised their price objective on shares of Waste Management from $211.00 to $215.00 and gave the stock a "sector perform" rating in a research note on Friday. Citigroup boosted their target price on shares of Waste Management from $215.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Finally, Oppenheimer raised their price target on shares of Waste Management from $221.00 to $228.00 and gave the company an "outperform" rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.21.
Check Out Our Latest Stock Analysis on WM
Insider Activity at Waste Management
In related news, SVP Tara J. Hemmer sold 1,782 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $204.23, for a total value of $363,937.86. Following the transaction, the senior vice president now directly owns 55,591 shares in the company, valued at $11,353,349.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the transaction, the chief financial officer now directly owns 75,204 shares of the company's stock, valued at approximately $14,934,010.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tara J. Hemmer sold 1,782 shares of Waste Management stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the completion of the transaction, the senior vice president now owns 55,591 shares of the company's stock, valued at approximately $11,353,349.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,007 shares of company stock valued at $3,696,520. 0.18% of the stock is currently owned by insiders.
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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