Tdam USA Inc. Reduces Holdings in Waste Management, Inc. (WM)
Tdam USA Inc. reduced its position in Waste Management, Inc. (NYSE:WM) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,177 shares of the business services provider’s stock after selling 4,466 shares during the quarter. Tdam USA Inc.’s holdings in Waste Management were worth $1,473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. We Are One Seven LLC acquired a new position in Waste Management in the 4th quarter valued at about $26,000. Larson Financial Group LLC acquired a new position in shares of Waste Management during the fourth quarter worth about $26,000. Executive Wealth Management LLC acquired a new position in Waste Management in the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new position in Waste Management in the fourth quarter valued at approximately $27,000. Finally, Washington Trust Bank acquired a new position in Waste Management in the first quarter valued at approximately $28,000. 75.84% of the stock is owned by institutional investors.
NYSE:WM traded up $0.71 during trading hours on Tuesday, hitting $109.12. The company’s stock had a trading volume of 264,901 shares, compared to its average volume of 1,740,558. The stock has a market capitalization of $45.75 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 2.93 and a beta of 0.67. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.69. Waste Management, Inc. has a 52-week low of $79.96 and a 52-week high of $108.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.5125 dividend. This represents a $2.05 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, June 6th. Waste Management’s payout ratio is 48.81%.
A number of brokerages have weighed in on WM. Argus boosted their price objective on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. KeyCorp started coverage on Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price objective for the company. Royal Bank of Canada started coverage on Waste Management in a research report on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 price objective for the company. Finally, Oppenheimer increased their price objective on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $105.22.
In other Waste Management news, EVP John J. Morris sold 42,795 shares of the company’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 owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Watson sold 700 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the sale, the vice president now directly owns 9,518 shares in the company, valued at approximately $995,106.90. The disclosure for this sale can be found here. Insiders sold 43,811 shares of company stock valued at $4,657,346 in the last quarter. 0.14% of the stock is currently owned by company insiders.
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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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