Silvercrest Asset Management Group LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,430 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Waste Management were worth $511,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of WM. BlackRock Inc. increased its position in Waste Management by 3.1% in the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock valued at $3,710,826,000 after acquiring an additional 976,898 shares during the period. Nordea Investment Management AB increased its position in Waste Management by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock valued at $305,112,000 after acquiring an additional 547,291 shares during the period. Thoroughbred Financial Services LLC increased its position in Waste Management by 12,605.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock valued at $29,820,000 after acquiring an additional 295,857 shares during the period. APG Asset Management N.V. increased its position in Waste Management by 10.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,187,237 shares of the business services provider’s stock valued at $322,894,000 after acquiring an additional 294,177 shares during the period. Finally, Lazard Asset Management LLC increased its position in Waste Management by 43.1% in the 1st quarter. Lazard Asset Management LLC now owns 853,443 shares of the business services provider’s stock valued at $88,681,000 after acquiring an additional 257,207 shares during the period. Hedge funds and other institutional investors own 73.17% of the company’s stock.
A number of equities research analysts have weighed in on the company. CIBC reaffirmed a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Scotiabank assumed coverage on Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating on the stock. KeyCorp lifted their price objective on Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. assumed coverage on Waste Management in a report on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.25.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. Equities analysts predict that Waste Management, Inc. will post 4.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.512 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Thursday, September 5th. Waste Management’s dividend payout ratio (DPR) is 48.81%.
In other news, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 97,361 shares of company stock worth $11,374,563 in the last three months. Corporate insiders own 0.14% of the company’s stock.
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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