Financial Network Wealth Management LLC decreased its stake in Waste Management, Inc. (NYSE:WM) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,525 shares of the business services provider’s stock after selling 175 shares during the quarter. Financial Network Wealth Management LLC’s holdings in Waste Management were worth $774,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Lakes Capital Management LLC acquired a new position in Waste Management during the first quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Waste Management during the second quarter worth about $25,000. KB Financial Partners LLC acquired a new position in Waste Management during the first quarter worth about $26,000. Princeton Global Asset Management LLC acquired a new position in Waste Management during the first quarter worth about $32,000. Finally, Godsey & Gibb Associates boosted its position in Waste Management by 58.0% during the second quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 74.10% of the company’s stock.
A number of research firms recently weighed in on WM. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Morgan Stanley lifted their target price on shares of Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 13th. Oppenheimer lifted their target price on shares of Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. BMO Capital Markets lifted their target price on shares of Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Finally, Raymond James reaffirmed an “outperform” rating and set a $146.70 target price (down from $147.00) on shares of Waste Management in a research note on Monday, July 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $136.25.
Waste Management (NYSE:WM) last issued its earnings results on Tuesday, July 27th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.09. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 4.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, September 2nd. Waste Management’s payout ratio is 57.07%.
In related news, CAO Leslie K. Nagy sold 2,006 shares of the company’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $139.06, for a total value of $278,954.36. Following the completion of the sale, the chief accounting officer now owns 4,776 shares in the company, valued at approximately $664,150.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles C. Boettcher sold 3,500 shares of the company’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $145.00, for a total transaction of $507,500.00. Following the completion of the sale, the executive vice president now owns 19,091 shares of the company’s stock, valued at approximately $2,768,195. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,415 shares of company stock valued at $12,300,321. Company insiders own 0.16% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.
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