QS Investors LLC Has $15.09 Million Position in Waste Management, Inc. (WM)
QS Investors LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 205,775 shares of the business services provider’s stock after buying an additional 7,461 shares during the period. QS Investors LLC’s holdings in Waste Management were worth $15,094,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Bangor Savings Bank boosted its holdings in Waste Management by 1.4% in the 1st quarter. Bangor Savings Bank now owns 3,438 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 47 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Waste Management by 19.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,642,966 shares of the business services provider’s stock valued at $119,805,000 after buying an additional 262,118 shares in the last quarter. BARING ASSET MANAGEMENT Ltd raised its position in shares of Waste Management by 477.3% during the 1st quarter. BARING ASSET MANAGEMENT Ltd now owns 18,530 shares of the business services provider’s stock valued at $1,351,000 after buying an additional 15,320 shares in the last quarter. Hilton Capital Management LLC purchased a new stake in shares of Waste Management during the 1st quarter valued at $661,000. Finally, Teza Capital Management LLC raised its position in shares of Waste Management by 315.3% during the 1st quarter. Teza Capital Management LLC now owns 40,586 shares of the business services provider’s stock valued at $2,960,000 after buying an additional 30,813 shares in the last quarter. 74.93% of the stock is owned by institutional investors.
Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. BMO Capital Markets assumed coverage on shares of Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Thursday, June 22nd. Credit Suisse Group raised their price objective on shares of 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. raised their price objective on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.19.
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In other news, Director Patrick W. Gross sold 487 shares of the stock in a transaction 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 sale, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John C. Pope sold 453 shares of the 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 completion of the sale, 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 company insiders.
Shares of Waste Management, Inc. (WM) traded down 0.40% during trading on Thursday, reaching $78.01. 617,879 shares of the company were exchanged. The stock’s 50 day moving average is $76.29 and its 200 day moving average is $73.93. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $78.71. The company has a market capitalization of $34.33 billion, a price-to-earnings ratio of 26.72 and a beta of 0.71.
Waste Management (NYSE:WM) last released 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. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the business earned $0.74 earnings per share. Waste Management’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a dividend of $0.425 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.70 annualized dividend and a yield of 2.16%. Waste Management’s dividend payout ratio (DPR) is currently 58.42%.
Waste Management 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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