Short Interest in Waste Management, Inc. (NYSE:WM) Decreases By 5.5%

Waste Management, Inc. (NYSE:WM) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 3,712,900 shares, a decline of 5.5% from the May 15th total of 3,928,000 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is currently 2.3 days.

WM has been the subject of a number of recent research reports. UBS Group restated a “hold” rating on shares of Deutsche Bank in a research note on Thursday, April 4th. CIBC restated a “hold” rating and set a $2.50 price objective on shares of Advantage Oil & Gas in a research note on Thursday. Argus upped their price objective on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada set a €67.00 ($77.91) price objective on Daimler and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, Stifel Nicolaus started coverage on AAR in a research note on Monday, July 8th. They set a “buy” rating and a $50.00 price objective for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $111.67.

In other Waste Management news, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the sale, the director now directly owns 53,378 shares in the company, valued at approximately $6,331,164.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael J. Watson sold 700 shares of Waste Management stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total value of $73,185.00. Following the sale, the vice president now owns 9,518 shares in the company, valued at $995,106.90. The disclosure for this sale can be found here. Insiders have sold a total of 128,098 shares of company stock worth $14,483,420 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Waste Management during the fourth quarter valued at $402,210,000. Bessemer Group Inc. lifted its holdings in shares of Waste Management by 695.7% during the fourth quarter. Bessemer Group Inc. now owns 1,337,530 shares of the business services provider’s stock valued at $119,027,000 after purchasing an additional 1,169,429 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Waste Management by 22.9% during the first quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock valued at $305,112,000 after purchasing an additional 547,291 shares during the last quarter. FMR LLC lifted its holdings in shares of Waste Management by 136.9% during the fourth quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock valued at $72,745,000 after purchasing an additional 472,388 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Waste Management by 14.9% during the first quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock valued at $300,717,000 after purchasing an additional 374,826 shares during the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

WM stock traded down $1.18 during trading on Friday, reaching $116.79. 1,214,621 shares of the company’s stock were exchanged, compared to its average volume of 1,570,014. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45. Waste Management has a 1-year low of $81.01 and a 1-year high of $118.89. The company has a fifty day simple moving average of $115.21. The stock has a market capitalization of $49.61 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 3.17 and a beta of 0.62.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Waste Management will post 4.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.5125 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.05 annualized dividend and a dividend yield of 1.76%. Waste Management’s dividend payout ratio (DPR) is 48.81%.

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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