Gamco Investors INC. ET AL decreased its stake in Waste Management, Inc. (NYSE:WM) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 872,966 shares of the business services provider’s stock after selling 57,700 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Waste Management were worth $71,007,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC purchased a new position in Waste Management during the 2nd quarter valued at about $100,000. Gables Capital Management Inc. purchased a new position in Waste Management during the 1st quarter valued at about $102,000. Braun Bostich & Associates Inc. increased its holdings in Waste Management by 546.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 1,223 shares in the last quarter. Bruderman Asset Management LLC purchased a new position in Waste Management during the 1st quarter valued at about $127,000. Finally, Rainier Group Investment Advisory LLC purchased a new position in Waste Management during the 1st quarter valued at about $135,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.
Several equities analysts have weighed in on WM shares. BMO Capital Markets restated a “buy” rating and set a $93.00 target price on shares of Waste Management in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of Waste Management from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Finally, ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. 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. Waste Management presently has an average rating of “Buy” and a consensus price target of $91.22.
In other news, Director Patrick W. Gross sold 406 shares of Waste Management stock in a transaction dated 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 sale, the director now directly owns 24,149 shares in the company, valued at $2,009,679.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.30% of the company’s stock.
Shares of NYSE WM opened at $90.63 on Thursday. The stock has a market cap of $38.87 billion, a PE ratio of 28.15, a PEG ratio of 1.87 and a beta of 0.73. Waste Management, Inc. has a 12 month low of $75.71 and a 12 month high of $91.64. 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 issued its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.76 billion. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. research analysts predict that Waste Management, Inc. will post 4.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.05%. Waste Management’s dividend payout ratio (DPR) is presently 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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