Gateway Investment Advisers LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,079 shares of the business services provider’s stock after selling 2,189 shares during the quarter. Gateway Investment Advisers LLC owned about 0.06% of Waste Management worth $40,074,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of WM. American National Bank increased its stake in Waste Management by 1,459.9% in the 2nd quarter. American National Bank now owns 2,137 shares of the business services provider’s stock worth $371,000 after acquiring an additional 2,000 shares during the last quarter. Simmons Bank lifted its position in Waste Management by 12.5% during the first quarter. Simmons Bank now owns 2,695 shares of the business services provider’s stock valued at $440,000 after purchasing an additional 300 shares during the last quarter. TimeScale Financial Inc. purchased a new position in Waste Management in the 1st quarter worth approximately $49,000. Caliber Wealth Management LLC raised its position in shares of Waste Management by 26.2% during the 1st quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider’s stock valued at $1,520,000 after buying an additional 1,931 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of Waste Management by 195.0% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 12,891 shares of the business services provider’s stock worth $2,103,000 after acquiring an additional 8,521 shares during the last quarter. 78.34% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the completion of the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $131,059.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total transaction of $27,423.68. Following the completion of the transaction, the director now owns 822 shares of the company’s stock, valued at approximately $131,059.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Pope sold 198 shares of Waste Management stock in a transaction on Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the transaction, the director now owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
Waste Management Trading Down 1.0 %
NYSE WM traded down $1.57 on Thursday, hitting $158.48. The company’s stock had a trading volume of 606,769 shares, compared to its average volume of 1,581,646. The firm has a market cap of $64.19 billion, a P/E ratio of 28.79, a PEG ratio of 2.71 and a beta of 0.72. The company’s 50-day simple moving average is $161.37 and its 200 day simple moving average is $162.59. Waste Management, Inc. has a 52-week low of $148.31 and a 52-week high of $173.71. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.14.
Waste Management (NYSE:WM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. Waste Management’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts predict 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. Investors of record on Friday, September 8th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.80 annualized dividend and a dividend yield of 1.77%. Waste Management’s dividend payout ratio is presently 50.36%.
Analysts Set New Price Targets
WM has been the topic of a number of research reports. StockNews.com started coverage on Waste Management in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Raymond James dropped their target price 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. BMO Capital Markets decreased their price target on shares of Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Citigroup reduced their target price on shares of Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. Finally, HSBC initiated coverage on Waste Management in a research note on Friday, September 15th. They set a “buy” rating and a $192.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.25.
About Waste Management
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.