Seeyond Decreases Stake in Waste Management, Inc. (NYSE:WM)

Seeyond reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 42.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,467 shares of the business services provider’s stock after selling 6,296 shares during the period. Seeyond’s holdings in Waste Management were worth $977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of Waste Management during the 2nd quarter worth $25,000. Hanson McClain Inc. raised its stake in shares of Waste Management by 51.0% during the 1st quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after buying an additional 102 shares during the last quarter. Financial Gravity Wealth Inc. raised its stake in shares of Waste Management by 133.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares during the last quarter. Personal Wealth Partners acquired a new position in shares of Waste Management during the 2nd quarter worth $35,000. Finally, Next Capital Management LLC raised its stake in shares of Waste Management by 119.6% during the 2nd quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock worth $37,000 after buying an additional 177 shares during the last quarter. Institutional investors own 73.31% of the company’s stock.

WM stock traded up $0.86 during trading on Thursday, hitting $113.08. The stock had a trading volume of 137,455 shares, compared to its average volume of 1,731,441. The company’s 50 day moving average price is $117.85 and its two-hundred day moving average price is $110.50. Waste Management, Inc. has a 1-year low of $83.22 and a 1-year high of $121.77. The stock has a market cap of $48.23 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.18 and a beta of 0.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.66 and a current ratio of 1.70.



Waste Management (NYSE:WM) last announced its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating 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 firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management, Inc. will post 4.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.512 dividend. This represents a $2.05 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, September 5th. Waste Management’s payout ratio is 48.81%.

WM has been the subject of several research reports. CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Raymond James set a $127.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. initiated coverage on Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 price target for the company. Finally, KeyCorp lifted their price target on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $115.25.

In other Waste Management news, 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 value of $34,278.29. Following the completion of the sale, the director now 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 can be accessed through this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. Insiders sold a total of 97,361 shares of company stock valued at $11,374,563 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

About Waste Management

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.

See Also: What is a short straddle?

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.