Waste Management, Inc. (WM) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board raised its stake in Waste Management, Inc. (NYSE:WM) by 31.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 369,610 shares of the business services provider’s stock after buying an additional 88,620 shares during the period. State of Wisconsin Investment Board owned approximately 0.08% of Waste Management worth $27,111,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. acquired a new position in Waste Management during the second quarter valued at about $101,000. Northwest Investment Counselors LLC acquired a new position in Waste Management during the second quarter valued at about $103,000. Guardian Life Insurance Co. of America boosted its position in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Waste Management during the first quarter valued at about $127,000. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Shares of Waste Management, Inc. (WM) opened at 75.89 on Friday. The firm has a market cap of $33.39 billion, a price-to-earnings ratio of 25.99 and a beta of 0.71. The firm has a 50-day moving average price of $75.11 and a 200 day moving average price of $73.30. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.33.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is currently 58.42%.
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Several research analysts have issued reports on the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. KeyCorp increased their price objective on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. Finally, Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.10.
In other news, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the transaction, the chief executive officer now owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. In the last three months, insiders sold 4,440 shares of company stock worth $322,728. 0.19% of the stock is currently owned by company insiders.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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