California Public Employees Retirement System lowered its position in Waste Management, Inc. (NYSE:WM) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 1,365,722 shares of the business services provider’s stock after selling 28,900 shares during the period. California Public Employees Retirement System’s holdings in Waste Management were worth $99,588,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of WM. Quadrant Capital Group LLC increased its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter worth about $127,000. Pinnacle Bank acquired a new position in shares of Waste Management during the first quarter worth about $131,000. Hudock Capital Group LLC increased its position in shares of Waste Management by 18.0% in the first quarter. Hudock Capital Group LLC now owns 2,048 shares of the business services provider’s stock worth $149,000 after buying an additional 312 shares during the last quarter. Finally, Advantage Investment Management LLC acquired a new position in shares of Waste Management during the fourth quarter worth about $162,000. Institutional investors own 75.56% of the company’s stock.
Waste Management, Inc. (WM) opened at 73.99 on Monday. The company has a 50 day moving average price of $72.70 and a 200 day moving average price of $71.94. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $74.58. The firm has a market capitalization of $32.70 billion, a P/E ratio of 26.99 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Waste Management had a net margin of 8.81% and a return on equity of 24.76%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the business earned $0.58 EPS. Waste Management’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post $3.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were paid a dividend of $0.425 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.70 annualized dividend and a yield of 2.30%. Waste Management’s dividend payout ratio is currently 62.04%.
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WM has been the topic of a number of recent analyst reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Friday, April 28th. KeyCorp upped their price target on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Hold” and an average price target of $74.08.
In related news, SVP Barry H. Caldwell sold 8,142 shares of Waste Management stock in a transaction on Friday, April 21st. The shares were sold at an average price of $73.52, for a total transaction of $598,599.84. Following the sale, the senior vice president now directly owns 35,916 shares in the company, valued at approximately $2,640,544.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the sale, the chief executive officer now owns 151,162 shares in the company, valued at $10,912,384.78. The disclosure for this sale can be found here. Insiders have sold a total of 15,142 shares of company stock worth $1,104,140 over the last quarter. 0.19% of the stock is owned by company insiders.
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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