Wilbanks Smith & Thomas Asset Management LLC decreased its stake in Waste Management, Inc. (NYSE:WM) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,473 shares of the business services provider’s stock after selling 110 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Waste Management were worth $1,282,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of WM. Shine Investment Advisory Services Inc. acquired a new stake in Waste Management during the 2nd quarter worth $101,000. Northwest Investment Counselors LLC acquired a new stake in Waste Management during the 2nd quarter worth $103,000. Bruderman Asset Management LLC acquired a new stake in Waste Management during the 2nd quarter worth $110,000. Guardian Life Insurance Co. of America boosted its stake in Waste Management by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after purchasing an additional 14 shares during the period. Finally, FTB Advisors Inc. boosted its stake in Waste Management by 4.3% during the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 74.93% of the company’s stock.
A number of brokerages recently weighed in on WM. Bank of America Corporation decreased their price target on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BMO Capital Markets began coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target for the company. Credit Suisse Group increased their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. increased their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Hold” and an average price target of $76.74.
In other news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Waste Management, Inc. (NYSE:WM) traded up 0.18% during mid-day trading on Tuesday, hitting $76.93. 531,455 shares of the stock traded hands. The stock has a 50-day moving average of $77.32 and a 200 day moving average of $74.44. The firm has a market cap of $33.85 billion, a price-to-earnings ratio of 26.35 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $79.28.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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