Ossiam Boosts Stake in Waste Management, Inc. (NYSE:WM)

Ossiam raised its position in Waste Management, Inc. (NYSE:WM) by 27.8% during the second quarter, HoldingsChannel.com reports. The firm owned 31,317 shares of the business services provider’s stock after purchasing an additional 6,815 shares during the period. Ossiam’s holdings in Waste Management were worth $4,643,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Credit Agricole S A grew its stake in Waste Management by 8.4% in the 1st quarter. Credit Agricole S A now owns 167,153 shares of the business services provider’s stock worth $21,566,000 after acquiring an additional 12,960 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Waste Management by 19.2% during the first quarter. Cerity Partners LLC now owns 7,758 shares of the business services provider’s stock worth $1,001,000 after purchasing an additional 1,251 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Waste Management by 77.6% during the first quarter. Bessemer Group Inc. now owns 640,696 shares of the business services provider’s stock worth $82,662,000 after purchasing an additional 279,930 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Waste Management by 6.7% during the second quarter. Daiwa Securities Group Inc. now owns 25,079 shares of the business services provider’s stock valued at $3,514,000 after buying an additional 1,581 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC grew its position in shares of Waste Management by 5.3% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 77,630 shares of the business services provider’s stock valued at $10,877,000 after purchasing an additional 3,932 shares during the period. 74.10% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the stock. BMO Capital Markets upped 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. Morgan Stanley boosted their price target on shares of Waste Management from $133.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 13th. Oppenheimer upped their target price on shares of Waste Management from $146.00 to $152.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a research report on Thursday, July 29th. Finally, Raymond James reiterated an “outperform” rating and issued a $146.70 price target (down previously from $147.00) on shares of Waste Management in a research report on Monday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.97.

In related news, CFO Devina A. Rankin sold 33,115 shares of the business’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $155.18, for a total value of $5,138,785.70. Following the completion of the sale, the chief financial officer now owns 53,434 shares of the company’s stock, valued at approximately $8,291,888.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Pope sold 211 shares of the business’s stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $145.90, for a total value of $30,784.90. Following the completion of the sale, the director now owns 54,943 shares of the company’s stock, valued at $8,016,183.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,826 shares of company stock worth $13,292,316. Corporate insiders own 0.16% of the company’s stock.

Shares of WM stock traded up $1.38 during mid-day trading on Thursday, reaching $156.35. 3,018 shares of the company were exchanged, compared to its average volume of 1,597,169. The company has a market capitalization of $65.84 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.50 and a beta of 0.81. The business’s 50 day simple moving average is $152.49 and its 200 day simple moving average is $144.16. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.84 and a current ratio of 0.88. Waste Management, Inc. has a fifty-two week low of $106.11 and a fifty-two week high of $156.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.09. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The company’s revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. On average, analysts forecast that Waste Management, Inc. will post 4.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $2.30 annualized dividend and a yield of 1.47%. Waste Management’s payout ratio is presently 57.07%.

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

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