Point72 Asset Management L.P. raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,750 shares of the business services provider’s stock after buying an additional 4,418 shares during the period. Point72 Asset Management L.P.’s holdings in Waste Management were worth $7,701,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in Waste Management during the second quarter valued at about $25,000. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% during the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after buying an additional 161 shares during the period. Personal Wealth Partners purchased a new stake in Waste Management during the second quarter valued at about $35,000. Next Capital Management LLC boosted its position in Waste Management by 119.6% during the second quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock valued at $37,000 after buying an additional 177 shares during the period. Finally, Coastal Capital Group Inc. purchased a new stake in Waste Management during the second quarter valued at about $39,000. Institutional investors and hedge funds own 73.17% of the company’s stock.
WM has been the subject of several analyst reports. Macquarie restated an “outperform” rating and set a $130.00 price target on shares of Waste Management in a research report on Wednesday, September 4th. Stifel Nicolaus upped their price objective on shares of Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, July 8th. CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Royal Bank of Canada set a $126.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Raymond James set a $127.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $115.25.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) 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 company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 4.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.512 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.05 annualized dividend and a dividend yield of 1.78%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In related news, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction on Monday, July 8th. The shares were 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 directly owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tara J. Hmmer sold 4,739 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $118.04, for a total transaction of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares in the company, valued at $2,770,398.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,361 shares of company stock worth $11,374,563. 0.14% of the stock is owned by 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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