Waste Management, Inc. (NYSE:WM) Shares Sold by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec cut its position in Waste Management, Inc. (NYSE:WM) by 24.2% during the first quarter, Holdings Channel reports. The fund owned 817,100 shares of the business services provider’s stock after selling 260,497 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Waste Management were worth $59,648,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp boosted its position in shares of Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock worth $20,325,000 after buying an additional 11,138 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Waste Management by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 353,845 shares of the business services provider’s stock worth $25,803,000 after buying an additional 9,380 shares during the period. Franklin Street Advisors Inc. NC boosted its position in shares of Waste Management by 7.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 92,942 shares of the business services provider’s stock worth $6,777,000 after buying an additional 6,509 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Waste Management during the fourth quarter worth approximately $934,000. Finally, Kentucky Retirement Systems bought a new position in shares of Waste Management during the fourth quarter worth approximately $2,092,000. 74.98% of the stock is currently owned by institutional investors and hedge funds.
Waste Management, Inc. (NYSE WM) opened at 74.79 on Wednesday. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $74.97. The company has a market capitalization of $33.05 billion, a price-to-earnings ratio of 27.29 and a beta of 0.71. The stock has a 50 day moving average price of $73.57 and a 200 day moving average price of $72.25.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.33 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. Waste Management’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $0.58 earnings per share. On average, equities analysts expect that Waste Management, Inc. will post $3.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a $0.425 dividend. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.27%. Waste Management’s dividend payout ratio (DPR) is presently 62.04%.
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A number of brokerages have recently commented on WM. 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. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Thursday, June 22nd. BMO Capital Markets initiated coverage on Waste Management in a report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. Finally, Credit Suisse Group boosted their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $74.79.
In other Waste Management news, SVP Barry H. Caldwell sold 8,142 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $73.52, for a total value of $598,599.84. Following the sale, the senior vice president now directly owns 35,916 shares in the company, valued at $2,640,544.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Patrick W. Gross sold 487 shares of the firm’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 completion of the sale, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,082 shares of company stock worth $1,174,203. 0.19% of the stock is owned by 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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