Traders Sell Shares of Waste Management, Inc. (WM) on Strength (WM)
Traders sold shares of Waste Management, Inc. (NYSE:WM) on strength during trading hours on Tuesday. $15.50 million flowed into the stock on the tick-up and $57.45 million flowed out of the stock on the tick-down, for a money net flow of $41.95 million out of the stock. Of all stocks tracked, Waste Management had the 16th highest net out-flow for the day. Waste Management traded up $0.15 for the day and closed at $76.84
WM has been the subject of a number of research reports. Credit Suisse Group boosted 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. BMO Capital Markets initiated coverage on Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective for the company. Oppenheimer Holdings, Inc. boosted 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. Stifel Nicolaus boosted 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, Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $78.74.
The stock has a market capitalization of $33.81 billion, a P/E ratio of 26.32 and a beta of 0.74. The firm’s 50 day moving average price is $77.49 and its 200 day moving average price is $74.58.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, equities analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
Several hedge funds and other institutional investors have recently made changes to their positions in WM. Shine Investment Advisory Services Inc. bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $103,000. Bruderman Asset Management LLC bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $110,000. Guardian Life Insurance Co. of America lifted its holdings 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 worth $114,000 after purchasing an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. lifted its holdings in shares of Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the last quarter. 74.88% of the stock is currently owned by institutional investors and hedge funds.
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About Waste Management
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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