Oppenheimer Asset Management Inc. Trims Holdings in Waste Management, Inc. (WM)
Oppenheimer Asset Management Inc. lowered its position in Waste Management, Inc. (NYSE:WM) by 66.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,391 shares of the business services provider’s stock after selling 8,864 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Waste Management were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new stake in Waste Management in the second quarter valued at approximately $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Waste Management in the second quarter valued at approximately $103,000. Guardian Life Insurance Co. of America increased its holdings in shares of 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 purchasing an additional 14 shares during the period. First Interstate Bank increased its holdings in shares of Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 38 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 purchasing an additional 340 shares during the period. Institutional investors own 74.93% of the company’s stock.
A number of research firms have recently issued reports on WM. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, June 22nd. Stifel Nicolaus boosted their target price on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. BMO Capital Markets began coverage on Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price on the stock. Credit Suisse Group boosted their target price on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. boosted their target price on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, July 5th. 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. Waste Management currently has an average rating of “Hold” and an average price target of $76.19.
In related news, Director John C. Pope sold 453 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 23,222 shares in the company, 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.
Waste Management, Inc. (NYSE WM) opened at 78.00 on Monday. Waste Management, Inc. has a one year low of $61.08 and a one year high of $78.39. 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 cap of $34.32 billion, a price-to-earnings ratio of 26.71 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its quarterly earnings results 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. The business 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 business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. On average, analysts anticipate that Waste Management, Inc. will post $3.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 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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