Lourd Capital LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,270 shares of the business services provider’s stock after selling 501 shares during the period. Lourd Capital LLC’s holdings in Waste Management were worth $340,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of WM. Washington Trust Bank purchased a new position in shares of Waste Management during the first quarter valued at about $28,000. Larson Financial Group LLC purchased a new position in shares of Waste Management during the fourth quarter valued at about $26,000. Executive Wealth Management LLC purchased a new position in shares of Waste Management during the fourth quarter valued at about $26,000. We Are One Seven LLC purchased a new position in shares of Waste Management during the fourth quarter valued at about $26,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of Waste Management during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 75.74% of the company’s stock.
A number of brokerages have recently weighed in on WM. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and increased their price target for the company from $103.00 to $106.00 in a report on Thursday, April 4th. Oppenheimer increased their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 15th. KeyCorp began coverage on shares of Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and a consensus target price of $101.71.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, equities research analysts expect that Waste Management, Inc. will post 4.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.5125 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.05 annualized dividend and a yield of 1.97%. This is an increase from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In other news, Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the transaction, the director now directly owns 53,058 shares of the company’s stock, valued at $4,935,985.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tara J. Hmmer sold 472 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.81, for a total transaction of $46,638.32. Following the transaction, the senior vice president now directly owns 17,208 shares in the company, valued at $1,700,322.48. The disclosure for this sale can be found here. In the last three months, insiders sold 4,092 shares of company stock valued at $402,648. 0.14% of the stock is owned by insiders.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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