Waste Management Inc. (WM) Stake Boosted by Sabal Trust CO
Sabal Trust CO boosted its position in Waste Management Inc. (NYSE:WM) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 370,604 shares of the company’s stock after buying an additional 9,088 shares during the period. Waste Management comprises approximately 2.8% of Sabal Trust CO’s holdings, making the stock its 13th largest position. Sabal Trust CO owned 0.08% of Waste Management worth $24,560,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in WM. Ngam Advisors L.P. raised its stake in shares of Waste Management by 14.8% in the first quarter. Ngam Advisors L.P. now owns 27,245 shares of the company’s stock worth $1,608,000 after buying an additional 3,521 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Waste Management by 3.2% in the first quarter. Teachers Advisors Inc. now owns 621,958 shares of the company’s stock worth $36,696,000 after buying an additional 19,467 shares during the last quarter. FDO Partners LLC raised its stake in shares of Waste Management by 16.7% in the first quarter. FDO Partners LLC now owns 6,230 shares of the company’s stock worth $368,000 after buying an additional 893 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Waste Management by 10.1% in the first quarter. BlackRock Group LTD now owns 4,107,659 shares of the company’s stock worth $242,351,000 after buying an additional 377,447 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Waste Management by 1.2% in the first quarter. BlackRock Fund Advisors now owns 9,248,265 shares of the company’s stock worth $545,648,000 after buying an additional 108,262 shares during the last quarter. 75.21% of the stock is owned by hedge funds and other institutional investors.
Waste Management Inc. (NYSE:WM) traded down 1.28% during mid-day trading on Tuesday, reaching $62.65. 1,813,868 shares of the company’s stock traded hands. The stock’s 50 day moving average is $64.05 and its 200-day moving average is $62.65. The stock has a market capitalization of $27.71 billion, a PE ratio of 24.48 and a beta of 0.62. Waste Management Inc. has a 52 week low of $50.36 and a 52 week high of $70.50.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company earned $3.43 billion during the quarter, compared to analyst estimates of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. Waste Management’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share. On average, equities analysts anticipate that Waste Management Inc. will post $2.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, September 7th. Waste Management’s payout ratio is 63.81%.
WM has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded shares of Waste Management from a “market weight” rating to an “overweight” rating in a report on Monday, June 27th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, June 29th. KeyCorp restated a “hold” rating on shares of Waste Management in a report on Thursday, July 14th. Wedbush restated an “outperform” rating and issued a $73.00 price target on shares of Waste Management in a report on Thursday, July 28th. Finally, Imperial Capital boosted their price target on shares of Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a report on Friday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Waste Management has an average rating of “Buy” and an average price target of $67.13.
In other news, Director Thomas H. Weidemeyer sold 449 shares of the firm’s stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $67.58, for a total value of $30,343.42. Following the completion of the transaction, the director now owns 24,383 shares of the company’s stock, valued at $1,647,803.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Don P. Carpenter sold 1,634 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $66.13, for a total transaction of $108,056.42. Following the completion of the transaction, the vice president now directly owns 19,865 shares of the company’s stock, valued at approximately $1,313,672.45. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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