Waste Management, Inc. (WM) Shares Sold by East Coast Asset Management LLC.

East Coast Asset Management LLC. lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,780 shares of the business services provider’s stock after selling 1,028 shares during the quarter. Waste Management comprises 0.7% of East Coast Asset Management LLC.’s investment portfolio, making the stock its 21st biggest holding. East Coast Asset Management LLC.’s holdings in Waste Management were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Salem Investment Counselors Inc. increased its stake in Waste Management by 38.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 7,195 shares of the business services provider’s stock valued at $585,000 after buying an additional 2,000 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Waste Management by 15.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock valued at $128,000 after buying an additional 14,720 shares during the last quarter. Northstar Capital Management LLC increased its stake in Waste Management by 1,518.0% in the 2nd quarter. Northstar Capital Management LLC now owns 11,326 shares of the business services provider’s stock valued at $921,000 after buying an additional 10,626 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new stake in Waste Management in the 2nd quarter valued at about $2,367,000. Finally, Centaurus Financial Inc. increased its stake in Waste Management by 34.4% in the 2nd quarter. Centaurus Financial Inc. now owns 7,078 shares of the business services provider’s stock valued at $576,000 after buying an additional 1,810 shares during the last quarter. Institutional investors own 74.62% of the company’s stock.

In other news, Director Patrick W. Gross sold 406 shares of the stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total transaction of $33,787.32. Following the completion of the transaction, the director now directly owns 24,149 shares of the company’s stock, valued at approximately $2,009,679.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.

WM has been the subject of several analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. Finally, ValuEngine lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.22.

Waste Management stock opened at $92.03 on Friday. Waste Management, Inc. has a twelve month low of $75.86 and a twelve month high of $92.67. The company has a market cap of $39.33 billion, a PE ratio of 28.58, a P/E/G ratio of 1.89 and a beta of 0.70. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.48.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. equities analysts expect that Waste Management, Inc. will post 4.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 6th. Waste Management’s dividend payout ratio is currently 57.76%.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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.

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

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