Keybank National Association OH lowered its position in Waste Management, Inc. (NYSE:WM) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 31,728 shares of the business services provider’s stock after selling 1,966 shares during the period. Keybank National Association OH’s holdings in Waste Management were worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hall Capital Management Co. Inc. purchased a new position in Waste Management during the fourth quarter worth about $1,690,000. Clark Capital Management Group Inc. purchased a new position in Waste Management during the fourth quarter worth about $12,643,000. Wetherby Asset Management Inc. raised its position in Waste Management by 4.2% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,538 shares of the business services provider’s stock worth $393,000 after buying an additional 225 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Waste Management by 14.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 52,543 shares of the business services provider’s stock worth $3,726,000 after buying an additional 6,490 shares during the last quarter. Finally, State Street Corp raised its position in Waste Management by 4.6% in the fourth quarter. State Street Corp now owns 21,153,410 shares of the business services provider’s stock worth $1,499,981,000 after buying an additional 935,237 shares during the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

Shares of Waste Management, Inc. (NYSE:WM) opened at 74.14 on Friday. The firm’s 50-day moving average price is $72.58 and its 200-day moving average price is $71.70. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $74.58. The firm has a market capitalization of $32.77 billion, a price-to-earnings ratio of 27.05 and a beta of 0.71.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, equities analysts anticipate that Waste Management, Inc. will post $3.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, June 9th will be issued a $0.425 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.29%. Waste Management’s dividend payout ratio is presently 62.04%.

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A number of research firms recently weighed in on WM. Oppenheimer Holdings, Inc. set a $75.00 price target on Waste Management and gave the company a “buy” rating in a research report on Saturday, February 18th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Wednesday. Barclays PLC lowered Waste Management from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $70.00 to $73.00 in a research report on Wednesday, March 1st. They noted that the move was a valuation call. Finally, Wedbush increased their price target on Waste Management from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.01.

In related news, SVP Barry H. Caldwell sold 8,142 shares of the company’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $73.52, for a total value of $598,599.84. Following the completion of the sale, the senior vice president now owns 35,916 shares in the company, valued at $2,640,544.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Barry H. Caldwell sold 3,100 shares of the company’s stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $73.50, for a total value of $227,850.00. Following the completion of the sale, the senior vice president now owns 48,813 shares of the company’s stock, valued at approximately $3,587,755.50. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock valued at $1,331,990 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Waste Management Company 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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