NorthCrest Asset Manangement LLC lowered its position in Waste Management, Inc. (NYSE:WM – Get Rating) by 86.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,201 shares of the business services provider’s stock after selling 13,893 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Waste Management were worth $349,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Steward Financial Group LLC purchased a new stake in Waste Management during the 4th quarter worth about $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Waste Management during the 4th quarter worth about $25,000. Amplius Wealth Advisors LLC purchased a new stake in Waste Management during the 4th quarter worth about $27,000. Mizuho Securities Co. Ltd. purchased a new stake in Waste Management during the 1st quarter worth about $32,000. Finally, SOA Wealth Advisors LLC. increased its position in Waste Management by 51.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 206 shares of the business services provider’s stock worth $34,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
In related news, EVP John J. Morris sold 47,006 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $168.10, for a total transaction of $7,901,708.60. Following the transaction, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at approximately $16,046,994.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $166.57, for a total value of $1,717,503.27. Following the transaction, the senior vice president now directly owns 38,769 shares in the company, valued at $6,457,752.33. The disclosure for this sale can be found here. Insiders have sold a total of 59,985 shares of company stock worth $10,072,025 over the last three months. 0.18% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on WM. Bank of America upgraded Waste Management from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $155.00 to $165.00 in a research report on Friday, May 13th. Morgan Stanley lowered their price target on Waste Management from $165.00 to $160.00 and set an “equal weight” rating for the company in a report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Waste Management from $157.00 to $167.00 in a report on Thursday, April 28th. BMO Capital Markets cut Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 price target for the company. in a report on Tuesday, April 12th. Finally, Raymond James lifted their price target on Waste Management from $167.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, April 22nd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has an average rating of “Hold” and an average target price of $163.00.
NYSE WM opened at $151.25 on Thursday. The firm has a market capitalization of $62.80 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.49 and a beta of 0.80. Waste Management, Inc. has a 1-year low of $138.58 and a 1-year high of $170.18. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76. The business’s 50-day simple moving average is $155.34 and its 200-day simple moving average is $155.02.
Waste Management (NYSE:WM – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.17. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.45 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. On average, equities research analysts expect that Waste Management, Inc. will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, June 2nd. Waste Management’s dividend payout ratio (DPR) is presently 57.27%.
Waste Management Profile (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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.
Further Reading
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM – Get Rating).
Receive News & Ratings for Waste Management Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Waste Management and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
