Rehmann Capital Advisory Group increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,926 shares of the business services provider’s stock after purchasing an additional 341 shares during the period. Rehmann Capital Advisory Group’s holdings in Waste Management were worth $200,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Waste Management by 85.0% during the 4th quarter. Advisors Asset Management Inc. now owns 26,163 shares of the business services provider’s stock worth $2,328,000 after purchasing an additional 12,022 shares during the period. Buckingham Capital Management Inc. increased its stake in shares of Waste Management by 13.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 23,641 shares of the business services provider’s stock valued at $2,104,000 after acquiring an additional 2,805 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Waste Management by 7.8% during the 4th quarter. Victory Capital Management Inc. now owns 75,010 shares of the business services provider’s stock valued at $6,675,000 after acquiring an additional 5,406 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Waste Management by 8,644.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,823,989 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 3,780,259 shares during the last quarter. Finally, HL Financial Services LLC increased its stake in shares of Waste Management by 1.6% during the 4th quarter. HL Financial Services LLC now owns 12,617 shares of the business services provider’s stock valued at $1,123,000 after acquiring an additional 200 shares during the last quarter. 73.55% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on WM. UBS Group reaffirmed a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. Stifel Nicolaus initiated coverage on AAR in a report on Monday, July 8th. They set a “buy” rating and a $50.00 target price for the company. Oppenheimer initiated coverage on Pareteum in a report on Friday, April 26th. They set an “outperform” rating and a $7.00 target price for the company. KeyCorp cut Luxfer from an “overweight” rating to a “sector weight” rating and set a $24.30 target price for the company. in a report on Monday, June 3rd. Finally, Argus boosted their target price on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.67.
Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. Waste Management’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, analysts forecast that Waste Management, Inc. will post 4.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, June 6th. Waste Management’s dividend payout ratio is presently 48.81%.
In other news, VP Michael J. Watson sold 700 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total transaction of $73,185.00. Following the completion of the transaction, the vice president now directly owns 9,518 shares in the company, valued at approximately $995,106.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the transaction, the chief executive officer now owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,809 shares of company stock valued at $14,449,141. 0.14% of the stock is owned by company insiders.
Waste Management 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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