Bradley Foster & Sargent Inc. CT grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 25.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,906 shares of the business services provider’s stock after acquiring an additional 1,182 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Waste Management were worth $433,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. bought a new stake in Waste Management during the 2nd quarter valued at approximately $101,000. Northwest Investment Counselors LLC bought a new stake in Waste Management in the 2nd quarter worth approximately $103,000. Guardian Life Insurance Co. of America increased its stake in Waste Management by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after acquiring an additional 14 shares during the last quarter. First Interstate Bank increased its stake in Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after acquiring an additional 38 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Waste Management by 25.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock worth $124,000 after acquiring an additional 340 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors.
Waste Management, Inc. (WM) traded down 0.15% on Friday, hitting $77.72. The stock had a trading volume of 801,528 shares. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $78.39. The company has a market cap of $34.20 billion, a P/E ratio of 26.62 and a beta of 0.71. The firm’s 50-day moving average is $76.03 and its 200-day moving average is $73.81.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is 58.42%.
In related news, Director John C. Pope sold 453 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the sale, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
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WM has been the topic of a number of research reports. Oppenheimer Holdings, Inc. lifted their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Thursday, June 22nd. BMO Capital Markets started coverage on Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price for the company. Stifel Nicolaus boosted their price objective on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Credit Suisse Group boosted their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $76.19.
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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