Waste Management, Inc. (WM) Holdings Lifted by Amalgamated Bank
Amalgamated Bank boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 57.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,215 shares of the business services provider’s stock after acquiring an additional 18,619 shares during the period. Amalgamated Bank’s holdings in Waste Management were worth $3,757,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. lifted its holdings in Waste Management by 4.9% during the second quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock worth $2,320,637,000 after acquiring an additional 1,475,583 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Waste Management in the second quarter valued at about $110,000. Bahl & Gaynor Inc. lifted its holdings in shares of Waste Management by 3.6% in the second quarter. Bahl & Gaynor Inc. now owns 9,620 shares of the business services provider’s stock valued at $682,000 after purchasing an additional 332 shares in the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Waste Management by 1.8% in the second quarter. KCM Investment Advisors LLC now owns 207,771 shares of the business services provider’s stock valued at $15,240,000 after purchasing an additional 3,602 shares in the last quarter. Finally, Comerica Securities Inc. lifted its holdings in shares of Waste Management by 2.4% in the second quarter. Comerica Securities Inc. now owns 9,690 shares of the business services provider’s stock valued at $711,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.
A number of brokerages have recently commented on WM. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. BMO Capital Markets restated a “buy” rating and issued a $82.00 price target on shares of Waste Management in a report on Friday, September 8th. Credit Suisse Group boosted their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Stifel Nicolaus boosted their price target on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.19.
In other news, Director Patrick W. Gross sold 487 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Pope sold 453 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following 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 owned by corporate insiders.
Waste Management, Inc. (WM) traded up 0.21% during mid-day trading on Friday, hitting $78.00. The company had a trading volume of 2,335,827 shares. The company’s 50 day moving average price is $76.10 and its 200-day moving average price is $73.85. The firm has a market capitalization of $34.32 billion, a PE ratio of 26.71 and a beta of 0.71. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $78.39.
Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.18%. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
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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