Private Capital Group LLC Acquires 1,961 Shares of Waste Management, Inc. (WM)

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Private Capital Group LLC lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 295.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,625 shares of the business services provider’s stock after buying an additional 1,961 shares during the period. Private Capital Group LLC’s holdings in Waste Management were worth $221,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WM. Millennium Management LLC grew its position in shares of Waste Management by 197.1% during the 1st quarter. Millennium Management LLC now owns 2,182,980 shares of the business services provider’s stock valued at $183,632,000 after buying an additional 1,448,281 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Waste Management by 60.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,488,298 shares of the business services provider’s stock valued at $209,315,000 after purchasing an additional 934,344 shares during the period. PNC Financial Services Group Inc. boosted its stake in Waste Management by 133.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,474,839 shares of the business services provider’s stock valued at $124,064,000 after purchasing an additional 842,995 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in Waste Management by 37.5% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,856,726 shares of the business services provider’s stock valued at $246,536,000 after purchasing an additional 778,626 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Waste Management by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,808,600 shares of the business services provider’s stock valued at $328,682,000 after purchasing an additional 511,700 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Barry H. Caldwell sold 10,844 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $84.00, for a total value of $910,896.00. Following the completion of the sale, the senior vice president now directly owns 31,447 shares of the company’s stock, valued at approximately $2,641,548. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nikolaj H. Sjoqvist sold 307 shares of the company’s stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $84.76, for a total transaction of $26,021.32. Following the completion of the sale, the senior vice president now directly owns 18,756 shares of the company’s stock, valued at $1,589,758.56. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

A number of research analysts have issued reports on the stock. UBS Group assumed coverage on shares of Waste Management in a research note on Wednesday, March 14th. They set a “neutral” rating and a $93.00 target price for the company. BMO Capital Markets reduced their target price on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. Finally, Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Waste Management presently has a consensus rating of “Buy” and a consensus price target of $90.89.

Shares of NYSE:WM opened at $81.27 on Friday. The company has a market capitalization of $35.33 billion, a PE ratio of 25.24, a P/E/G ratio of 1.68 and a beta of 0.70. Waste Management, Inc. has a twelve month low of $72.58 and a twelve month high of $89.73. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.47.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.57 billion. Waste Management had a net margin of 14.06% and a return on equity of 26.73%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. equities analysts forecast that Waste Management, Inc. will post 4.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, June 7th. Waste Management’s dividend payout ratio is currently 57.76%.

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.

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

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