Waste Management, Inc. (WM) Stake Decreased by Westpac Banking Corp
Westpac Banking Corp trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 89.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,862 shares of the business services provider’s stock after selling 279,058 shares during the quarter. Westpac Banking Corp’s holdings in Waste Management were worth $2,410,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wetherby Asset Management Inc. increased its holdings in Waste Management by 1.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 5,595 shares of the business services provider’s stock worth $408,000 after purchasing an additional 57 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Waste Management by 11.9% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 36,923 shares of the business services provider’s stock worth $2,692,000 after purchasing an additional 3,926 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Waste Management by 26.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 141,062 shares of the business services provider’s stock worth $10,286,000 after purchasing an additional 29,600 shares during the period. Oxbow Advisors LLC increased its holdings in Waste Management by 8.8% during the 1st quarter. Oxbow Advisors LLC now owns 8,623 shares of the business services provider’s stock worth $629,000 after purchasing an additional 700 shares during the period. Finally, Schulhoff & Co. Inc. increased its holdings in Waste Management by 4.1% during the 1st quarter. Schulhoff & Co. Inc. now owns 10,225 shares of the business services provider’s stock worth $745,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 74.99% of the company’s stock.
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Waste Management, Inc. (WM) opened at 76.13 on Thursday. Waste Management, Inc. has a one year low of $61.08 and a one year high of $77.52. The stock has a 50 day moving average price of $75.62 and a 200-day moving average price of $73.63. The stock has a market capitalization of $33.50 billion, a P/E ratio of 26.07 and a beta of 0.71.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio is currently 58.42%.
In related news, Director Patrick W. Gross sold 487 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the transaction, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Pope sold 453 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
WM has been the topic of several research reports. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. Finally, KeyCorp raised their price objective on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.10.
Waste Management 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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