Blue Chip Partners Inc. Has $1.79 Million Position in Waste Management, Inc. (WM)
Blue Chip Partners Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,401 shares of the business services provider’s stock after selling 516 shares during the period. Blue Chip Partners Inc.’s holdings in Waste Management were worth $1,790,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Waste Management during the second quarter worth $101,000. Northwest Investment Counselors LLC acquired a new stake in shares of Waste Management during the second quarter worth $103,000. Guardian Life Insurance Co. of America raised its stake in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock worth $124,000 after buying an additional 340 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Waste Management during the first quarter worth $127,000. Institutional investors own 74.98% of the company’s stock.
Waste Management, Inc. (WM) opened at 76.95 on Thursday. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $76.96. The stock’s 50 day moving average price is $75.11 and its 200 day moving average price is $73.30. The firm has a market capitalization of $33.86 billion, a P/E ratio of 26.35 and a beta of 0.71.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Zacks’ 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 for the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Waste Management’s revenue for the quarter was up 7.4% compared to the same quarter last year. 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 will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
A number of brokerages have recently weighed in on WM. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus lifted their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Oppenheimer Holdings, Inc. lifted their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. BMO Capital Markets started coverage on Waste Management in a report on Thursday, June 29th. They set an “outperform” rating and a $81.00 target price for the company. Finally, Credit Suisse Group lifted their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $76.10.
In other news, Director Patrick W. Gross sold 487 shares of the company’s 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 transaction, the director now directly owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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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