Waste Management, Inc. (NYSE:WM) Shares Sold by Northeast Financial Consultants Inc
Northeast Financial Consultants Inc lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,140 shares of the business services provider’s stock after selling 200 shares during the period. Northeast Financial Consultants Inc’s holdings in Waste Management were worth $5,522,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $26,000. Executive Wealth Management LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Waste Management in the 4th quarter valued at approximately $27,000. Washington Trust Bank acquired a new stake in Waste Management in the 1st quarter valued at approximately $28,000. Finally, Gantzert Investment Co. LLC ADV acquired a new stake in Waste Management in the 4th quarter valued at approximately $31,000. 73.71% of the stock is currently owned by institutional investors.
Several analysts recently commented on the company. Stifel Nicolaus raised their target price on Waste Management from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. KeyCorp raised their target price on Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Royal Bank of Canada upgraded Waste Management from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $113.00 to $125.00 in a research report on Monday, June 3rd. Oppenheimer lifted their price target on Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Argus lifted their price target on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $111.11.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict that Waste Management, Inc. will post 4.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In other news, VP Michael J. Watson sold 700 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total transaction of $73,185.00. Following the completion of the sale, the vice president now directly owns 9,518 shares of the company’s stock, valued at approximately $995,106.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Morris sold 42,795 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the sale, the executive vice president now directly owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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