Waste Management, Inc. (WM) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 187,228 shares of the business services provider’s stock after selling 45,321 shares during the quarter. Nationwide Fund Advisors’ holdings in Waste Management were worth $13,733,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $103,000. Guardian Life Insurance Co. of America raised its stake in shares of Waste Management by 0.9% in the 1st 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 raised its stake in shares of Waste Management by 2.4% in the 2nd 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. raised its stake in shares of Waste Management by 25.1% in the 2nd 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. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on WM shares. Stifel Nicolaus lifted their price target on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. BMO Capital Markets reissued a “buy” rating and issued a $82.00 price target on shares of Waste Management in a research note on Friday, September 8th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. lifted their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group lifted their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. One 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 stock. The stock presently has an average rating of “Hold” and an average target price of $76.19.
Shares of Waste Management, Inc. (NYSE WM) opened at 78.20 on Friday. The company has a 50 day moving average price of $76.29 and a 200-day moving average price of $73.93. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $78.55. The firm has a market cap of $34.41 billion, a P/E ratio of 26.78 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 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The firm 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 revenue for the quarter 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 expect that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.425 dividend. The ex-dividend date was Thursday, September 7th. This represents a $1.70 annualized dividend and a yield of 2.17%. Waste Management’s dividend payout ratio (DPR) is 58.42%.
In other news, Director Patrick W. Gross sold 487 shares of the stock in a transaction that occurred 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 transaction, the director now directly 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 can be accessed through this hyperlink. Also, Director John C. Pope sold 453 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
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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