Two Sigma Advisers LP lifted its stake in Waste Management, Inc. (NYSE:WM) by 35.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,300,430 shares of the business services provider’s stock after acquiring an additional 336,900 shares during the period. Two Sigma Advisers LP owned 0.31% of Waste Management worth $137,729,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fortis Advisors LLC grew its holdings in Waste Management by 137.8% in the 1st quarter. Fortis Advisors LLC now owns 302 shares of the business services provider’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Waste Management during the 1st quarter worth approximately $30,000. Coastal Capital Group Inc. grew its holdings in shares of Waste Management by 52.1% during the 2nd quarter. Coastal Capital Group Inc. now owns 292 shares of the business services provider’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Waste Management by 210.3% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 301 shares of the business services provider’s stock worth $32,000 after purchasing an additional 204 shares in the last quarter. Finally, Blue Square Asset Management LLC acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $40,000. 71.42% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on WM shares. Raymond James lifted their price objective on Waste Management from $110.00 to $114.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Argus lifted their price objective on Waste Management from $110.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, August 24th. CIBC lowered Waste Management from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, July 14th. Robert W. Baird started coverage on Waste Management in a report on Thursday, May 28th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $115.00 price objective on shares of Waste Management in a report on Thursday, July 9th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Waste Management currently has an average rating of “Buy” and a consensus price target of $116.38.
Shares of WM stock traded down $0.22 on Wednesday, reaching $116.85. 2,041,148 shares of the stock were exchanged, compared to its average volume of 2,348,682. The stock has a market cap of $49.36 billion, a PE ratio of 30.91, a P/E/G ratio of 4.70 and a beta of 0.73. Waste Management, Inc. has a one year low of $85.34 and a one year high of $126.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a 50 day moving average price of $111.80 and a 200 day moving average price of $104.98.
Waste Management (NYSE:WM) last released its earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.50 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. On average, research analysts expect that Waste Management, Inc. will post 3.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $2.18 annualized dividend and a yield of 1.87%. Waste Management’s dividend payout ratio (DPR) is presently 49.55%.
Waste Management Company 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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