Westchester Capital Management Inc. lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,186 shares of the business services provider’s stock after selling 3,380 shares during the period. Waste Management comprises 4.3% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Westchester Capital Management Inc.’s holdings in Waste Management were worth $10,099,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WM. Norges Bank acquired a new position in Waste Management in the fourth quarter worth approximately $402,210,000. YorkBridge Wealth Partners LLC increased its holdings in Waste Management by 3.3% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 7,228 shares of the business services provider’s stock worth $643,000 after buying an additional 230 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in Waste Management in the fourth quarter worth approximately $236,000. Calton & Associates Inc. acquired a new position in Waste Management in the first quarter worth approximately $286,000. Finally, Summit Financial Wealth Advisors LLC increased its holdings in Waste Management by 0.9% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock worth $3,103,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.
In other news, EVP John J. Morris sold 42,795 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the sale, the executive vice president now directly owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 700 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the sale, the vice president now directly owns 9,518 shares of the company’s stock, valued at $995,106.90. The disclosure for this sale can be found here. Insiders have sold 43,811 shares of company stock valued at $4,657,346 in the last ninety days. Company insiders own 0.14% of the company’s stock.
Waste Management stock traded up $0.56 during trading hours on Friday, reaching $108.57. 482,610 shares of the company were exchanged, compared to its average volume of 1,343,056. The stock has a market capitalization of $45.87 billion, a P/E ratio of 25.85, a PEG ratio of 2.90 and a beta of 0.67. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45. Waste Management, Inc. has a 12 month low of $79.96 and a 12 month high of $108.75.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 4.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.5125 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a yield of 1.89%. Waste Management’s payout ratio is currently 48.81%.
WM has been the topic of a number of research reports. Argus increased their price objective on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Monday, April 15th. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $106.00 in a report on Thursday, April 4th. Finally, Oppenheimer increased their price objective on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $105.22.
Waste Management Company 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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