Pacer Advisors Inc. boosted its holdings in Waste Management, Inc. (NYSE:WM) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,567 shares of the business services provider’s stock after purchasing an additional 3,860 shares during the period. Pacer Advisors Inc.’s holdings in Waste Management were worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its stake in Waste Management by 1.7% in the second quarter. Valeo Financial Advisors LLC now owns 5,111 shares of the business services provider’s stock valued at $590,000 after acquiring an additional 86 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in Waste Management by 1.5% in the second quarter. AdvisorNet Financial Inc now owns 6,022 shares of the business services provider’s stock valued at $695,000 after acquiring an additional 87 shares during the last quarter. 6 Meridian lifted its stake in Waste Management by 1.7% in the second quarter. 6 Meridian now owns 5,181 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 88 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Waste Management by 2.8% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,247 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 89 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its stake in Waste Management by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 7,652 shares of the business services provider’s stock valued at $883,000 after acquiring an additional 90 shares during the last quarter. 73.17% of the stock is owned by institutional investors and hedge funds.
In other Waste Management news, SVP Tara J. Hmmer sold 4,739 shares of Waste Management stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $118.04, for a total value of $559,391.56. Following the completion of the sale, the senior vice president now owns 23,470 shares in the company, valued at approximately $2,770,398.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the sale, the director now owns 53,378 shares of the company’s stock, valued at approximately $6,331,164.58. The disclosure for this sale can be found here. Insiders sold a total of 13,636 shares of company stock valued at $1,619,433 in the last quarter. Corporate insiders own 0.14% of the company’s stock.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, analysts predict that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.512 dividend. This represents a $2.05 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, September 5th. Waste Management’s dividend payout ratio (DPR) is 48.81%.
WM has been the subject of a number of research reports. Stifel Nicolaus raised their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. CIBC restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. JPMorgan Chase & Co. initiated coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price for the company. ValuEngine cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and a consensus price target of $116.82.
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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