Laurion Capital Management LP Has $14.27 Million Stake in Waste Management, Inc. (WM)
Laurion Capital Management LP raised its stake in Waste Management, Inc. (NYSE:WM) by 2,035.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,519 shares of the business services provider’s stock after purchasing an additional 204,571 shares during the quarter. Laurion Capital Management LP’s holdings in Waste Management were worth $14,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of WM. Shine Investment Advisory Services Inc. purchased a new stake in shares of Waste Management during the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC purchased a new stake in shares of Waste Management during the second quarter valued at approximately $103,000. Bruderman Asset Management LLC purchased a new stake in shares of Waste Management during the second quarter valued at approximately $110,000. Guardian Life Insurance Co. of America increased its position in shares of Waste Management by 0.9% during 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 acquiring an additional 14 shares during the last quarter. Finally, First Interstate Bank increased its position in shares of Waste Management by 2.4% during the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 38 shares during the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: “Laurion Capital Management LP Has $14.27 Million Stake in Waste Management, Inc. (WM)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/17/laurion-capital-management-lp-has-14-27-million-stake-in-waste-management-inc-wm.html.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the sale, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Waste Management, Inc. (NYSE:WM) traded up 0.21% during mid-day trading on Friday, reaching $78.00. The company’s stock had a trading volume of 2,335,827 shares. The company has a 50-day moving average price of $76.10 and a 200-day moving average price of $73.85. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $78.39. The firm has a market cap of $34.32 billion, a PE ratio of 26.71 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. On average, equities research analysts expect that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.18%. Waste Management’s dividend payout ratio is presently 58.42%.
A number of brokerages recently commented on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets began coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target for the company. Credit Suisse Group increased their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. increased their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.19.
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.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).
Receive News & Stock Ratings for Waste Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management Inc. and related stocks with our FREE daily email newsletter.