Waste Management, Inc. (NYSE:WM) Shares Sold by Natixis
Natixis decreased its position in Waste Management, Inc. (NYSE:WM) by 44.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,094 shares of the business services provider’s stock after selling 77,333 shares during the period. Natixis’ holdings in Waste Management were worth $11,086,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Nordea Investment Management AB increased its stake in Waste Management by 22.9% during the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after buying an additional 547,291 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after purchasing an additional 326,408 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in Waste Management by 12,605.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock valued at $29,820,000 after purchasing an additional 295,857 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Waste Management by 43.1% in the 1st quarter. Lazard Asset Management LLC now owns 853,443 shares of the business services provider’s stock valued at $88,681,000 after purchasing an additional 257,207 shares in the last quarter. Finally, AMI Asset Management Corp boosted its stake in Waste Management by 98.3% during the 2nd quarter. AMI Asset Management Corp now owns 499,106 shares of the business services provider’s stock worth $57,582,000 after purchasing an additional 247,458 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
WM stock traded down $2.35 during trading on Wednesday, reaching $111.34. 1,502,045 shares of the stock were exchanged, compared to its average volume of 1,525,201. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The business has a 50 day moving average price of $117.95 and a 200-day moving average price of $110.44. Waste Management, Inc. has a 1 year low of $83.22 and a 1 year high of $121.77. The firm has a market capitalization of $48.23 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 3.18 and a beta of 0.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.512 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, September 5th. Waste Management’s dividend payout ratio is presently 48.81%.
WM has been the subject of a number of research reports. JPMorgan Chase & Co. assumed coverage on shares of Waste Management in a report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price for the company. Royal Bank of Canada set a $126.00 price target on shares of Waste Management and gave the stock a “buy” rating in a research report on Friday, July 26th. Macquarie reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Waste Management in a research note on Wednesday, September 4th. Scotiabank started coverage on shares of Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating for the company. Finally, Stifel Nicolaus raised their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.25.
In related news, VP Michael J. Watson sold 8,019 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the completion of the transaction, the vice president now directly owns 17,254 shares of the company’s stock, valued at approximately $2,060,127.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now directly owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The disclosure for this sale can be found here. Insiders sold 92,622 shares of company stock worth $10,815,171 over the last quarter. 0.14% of the stock is currently owned by insiders.
Waste Management Company 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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