Arrowstreet Capital Limited Partnership decreased its position in Waste Management, Inc. (NYSE:WM) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,126,067 shares of the business services provider’s stock after selling 35,102 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.26% of Waste Management worth $82,597,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new stake in Waste Management in the second quarter worth $101,000. Northwest Investment Counselors LLC purchased a new position in Waste Management during the second quarter valued at $103,000. Bruderman Asset Management LLC purchased a new position in Waste Management during the second quarter valued at $110,000. Guardian Life Insurance Co. of America lifted its position in Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the period. Finally, FTB Advisors Inc. lifted its position in Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 74.88% of the company’s stock.
Waste Management, Inc. (NYSE WM) traded up 0.35% during trading on Tuesday, hitting $76.96. The stock had a trading volume of 451,135 shares. The company has a market cap of $33.87 billion, a P/E ratio of 26.36 and a beta of 0.74. The firm has a 50 day moving average of $77.49 and a 200-day moving average of $74.58. Waste Management, Inc. has a one year low of $61.59 and a one year high of $79.28.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.425 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.70 annualized dividend and a yield of 2.22%. Waste Management’s dividend payout ratio is currently 58.42%.
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WM has been the subject of several recent research reports. Credit Suisse Group lifted their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. BMO Capital Markets started coverage on Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective for the company. Oppenheimer Holdings, Inc. boosted their price target on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Stifel Nicolaus boosted their price target on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Waste Management currently has an average rating of “Hold” and a consensus price target of $78.74.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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