12,079 Shares in Waste Management, Inc. (WM) Acquired by Columbia Asset Management
Columbia Asset Management acquired a new position in Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,079 shares of the business services provider’s stock, valued at approximately $885,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Aberdeen Asset Management PLC UK increased its holdings in Waste Management by 17.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 325,345 shares of the business services provider’s stock worth $23,864,000 after buying an additional 47,378 shares in the last quarter. AXA increased its holdings in Waste Management by 15.0% in the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after buying an additional 58,630 shares in the last quarter. Eaton Vance Management increased its holdings in Waste Management by 0.7% in the 2nd quarter. Eaton Vance Management now owns 224,552 shares of the business services provider’s stock worth $16,471,000 after buying an additional 1,595 shares in the last quarter. CIBC World Markets Inc. bought a new stake in Waste Management in the 2nd quarter worth about $31,805,000. Finally, Private Advisor Group LLC increased its holdings in Waste Management by 3.1% in the 2nd quarter. Private Advisor Group LLC now owns 52,811 shares of the business services provider’s stock worth $3,907,000 after buying an additional 1,592 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.
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Several equities research analysts recently commented on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Tuesday, May 16th. Stifel Nicolaus lifted their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.19.
Shares of Waste Management, Inc. (WM) opened at 78.32 on Wednesday. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $78.38. The firm’s 50 day moving average price is $75.78 and its 200-day moving average price is $73.72. The company has a market capitalization of $34.46 billion, a P/E ratio of 26.82 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, September 7th. Waste Management’s payout ratio is 58.42%.
In other news, Director John C. Pope sold 453 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was 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 $3,828,338.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was 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 owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
About Waste Management
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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