Sound View Wealth Advisors Group LLC boosted its position in Waste Management, Inc. (NYSE:WM) by 26.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,330 shares of the business services provider’s stock after buying an additional 1,521 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Waste Management were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of Waste Management by 8.9% in the first quarter. Capital Research Global Investors now owns 4,403,171 shares of the business services provider’s stock valued at $407,558,000 after purchasing an additional 358,063 shares in the last quarter. Pictet Asset Management Ltd. grew its position in Waste Management by 13.1% during the first quarter. Pictet Asset Management Ltd. now owns 4,184,643 shares of the business services provider’s stock worth $387,330,000 after buying an additional 485,860 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Waste Management during the first quarter worth about $27,510,000. California Public Employees Retirement System grew its position in Waste Management by 1.7% during the first quarter. California Public Employees Retirement System now owns 3,584,382 shares of the business services provider’s stock worth $331,770,000 after buying an additional 61,304 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Waste Management by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 3,311,714 shares of the business services provider’s stock worth $306,532,000 after buying an additional 225,012 shares in the last quarter. 73.45% of the stock is owned by institutional investors and hedge funds.
WM has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on Waste Management from $111.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Oppenheimer reaffirmed a “buy” rating and set a $117.00 price target on shares of Waste Management in a research note on Thursday, July 30th. CIBC lowered Waste Management from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, July 14th. Deutsche Bank dropped their price target on Waste Management from $132.00 to $104.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Finally, Argus lowered their target price on Waste Management from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and a consensus target price of $116.50.
In related news, Director John C. Pope sold 315 shares of the company’s stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $106.87, for a total value of $33,664.05. Following the transaction, the director now directly owns 54,269 shares of the company’s stock, valued at approximately $5,799,728.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
Shares of Waste Management stock traded up $0.02 during midday trading on Thursday, hitting $110.58. The company had a trading volume of 24,867 shares, compared to its average volume of 1,421,349. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $46.90 billion, a P/E ratio of 26.49, a P/E/G ratio of 4.61 and a beta of 0.73. The company has a 50 day moving average of $108.01 and a 200 day moving average of $106.56. Waste Management, Inc. has a 52-week low of $85.34 and a 52-week high of $126.79.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.50 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. Equities research analysts forecast that Waste Management, Inc. will post 3.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $2.18 annualized dividend and a dividend yield of 1.97%. Waste Management’s payout ratio is currently 49.55%.
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.
Read More: Depreciation
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.