American Century Companies Inc. lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 790,030 shares of the business services provider’s stock after selling 8,281 shares during the period. American Century Companies Inc. owned approximately 0.18% of Waste Management worth $57,949,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Intersect Capital LLC increased its position in Waste Management by 33.1% during the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 6,009 shares in the last quarter. Ifrah Financial Services Inc. acquired a new position in Waste Management in the 2nd quarter valued at approximately $402,000. Aviva PLC increased its position in Waste Management by 1.0% in the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock valued at $20,328,000 after acquiring an additional 2,710 shares during the period. Victory Capital Management Inc. increased its position in Waste Management by 19.2% in the 2nd quarter. Victory Capital Management Inc. now owns 48,756 shares of the business services provider’s stock valued at $3,576,000 after acquiring an additional 7,858 shares during the period. Finally, First National Trust Co. increased its position in Waste Management by 9.4% in the 2nd quarter. First National Trust Co. now owns 13,159 shares of the business services provider’s stock valued at $965,000 after acquiring an additional 1,126 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.
Shares of Waste Management, Inc. (NYSE WM) traded up 0.21% during midday trading on Friday, hitting $78.00. 2,335,827 shares of the stock were exchanged. The firm’s 50-day moving average is $76.10 and its 200 day moving average is $73.85. The firm has a market cap of $34.32 billion, a PE ratio of 26.71 and a beta of 0.71. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $78.39.
Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that Waste Management, Inc. will post $3.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. Waste Management’s dividend payout ratio is currently 58.42%.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets initiated coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. Finally, Credit Suisse Group boosted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $76.19.
In other news, Director John C. Pope sold 453 shares of Waste Management stock in a transaction 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 completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction 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 of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.
Waste Management Profile
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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