Argent Trust Co increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 17.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,138 shares of the business services provider’s stock after purchasing an additional 1,820 shares during the quarter. Argent Trust Co’s holdings in Waste Management were worth $1,124,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its position in Waste Management by 12.3% during the fourth quarter. Macquarie Group Ltd. now owns 8,342,672 shares of the business services provider’s stock worth $950,730,000 after buying an additional 915,772 shares during the period. Geode Capital Management LLC lifted its position in Waste Management by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,878,304 shares of the business services provider’s stock worth $668,456,000 after buying an additional 147,772 shares during the period. Parnassus Investments CA lifted its position in Waste Management by 2.2% during the fourth quarter. Parnassus Investments CA now owns 5,495,183 shares of the business services provider’s stock worth $626,231,000 after buying an additional 118,993 shares during the period. Norges Bank purchased a new position in Waste Management during the fourth quarter worth about $539,770,000. Finally, Pictet Asset Management Ltd. lifted its position in Waste Management by 11.1% during the fourth quarter. Pictet Asset Management Ltd. now owns 3,698,783 shares of the business services provider’s stock worth $421,513,000 after buying an additional 369,031 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.
In other Waste Management news, CFO Devina A. Rankin sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $125.14, for a total transaction of $1,001,120.00. Following the completion of the sale, the chief financial officer now owns 25,473 shares in the company, valued at approximately $3,187,691.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Leslie K. Nagy sold 890 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $122.70, for a total value of $109,203.00. Following the sale, the chief accounting officer now owns 5,253 shares of the company’s stock, valued at approximately $644,543.10. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.
Shares of NYSE:WM traded down $0.01 during mid-day trading on Friday, hitting $98.92. 1,058,547 shares of the company traded hands, compared to its average volume of 2,200,384. The firm has a market cap of $41.75 billion, a P/E ratio of 25.04, a PEG ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.80 and a current ratio of 1.84. Waste Management, Inc. has a 52-week low of $85.34 and a 52-week high of $126.79. The firm’s 50 day simple moving average is $97.57 and its 200 day simple moving average is $109.81.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, May 6th. The business services provider reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.73 billion. Waste Management had a return on equity of 27.69% and a net margin of 10.87%. The company’s revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. Equities research analysts expect that Waste Management, Inc. will post 3.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.20%. Waste Management’s payout ratio is currently 49.55%.
Several equities analysts recently weighed in on WM shares. Stifel Nicolaus increased their target price on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on Waste Management from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Benchmark upgraded Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 28th. BMO Capital Markets cut their price objective on Waste Management from $132.00 to $111.00 in a report on Tuesday, March 31st. Finally, Oppenheimer cut their price objective on Waste Management from $145.00 to $117.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $117.14.
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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