10,132 Shares in Waste Management, Inc. (WM) Acquired by Institute for Wealth Management LLC.
Institute for Wealth Management LLC. bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,132 shares of the business services provider’s stock, valued at approximately $745,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Waste Management by 5.0% during the second quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock worth $2,521,397,000 after purchasing an additional 1,621,347 shares during the period. BlackRock Inc. grew its stake 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 purchasing an additional 1,475,583 shares during the period. State Street Corp grew its stake in Waste Management by 0.6% during the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after purchasing an additional 134,152 shares during the period. AQR Capital Management LLC grew its stake in Waste Management by 10.2% during the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after purchasing an additional 518,270 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Waste Management by 95.0% during the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock worth $281,274,000 after purchasing an additional 1,879,300 shares during the period. 74.93% of the stock is owned by institutional investors and hedge funds.
In related news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was 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 in the company, valued at approximately $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Pope sold 453 shares of the company’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 completion of the sale, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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Shares of Waste Management, Inc. (NYSE WM) traded down 0.18% during midday trading on Friday, reaching $78.27. The company’s stock had a trading volume of 1,917,443 shares. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $78.71. The stock has a market cap of $34.42 billion, a price-to-earnings ratio of 29.54 and a beta of 0.71. The stock has a 50-day moving average price of $76.29 and a 200-day moving average price of $73.93.
Waste Management (NYSE:WM) last announced its 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 firm had revenue of $3.68 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors 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 dividend yield of 2.17%. Waste Management’s payout ratio is currently 58.42%.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets reissued a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a research note on Friday, September 8th. Credit Suisse Group raised their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Waste Management currently has a consensus rating of “Hold” and a consensus target price of $76.19.
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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