East Coast Asset Management LLC. decreased its holdings in Waste Management, Inc. (NYSE:WM) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,780 shares of the business services provider’s stock after selling 1,028 shares during the quarter. Waste Management makes up 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 SEC filing.
Several other institutional investors have also modified their holdings of WM. Kiley Juergens Wealth Management LLC bought a new stake in shares of Waste Management in the second quarter worth $100,000. Gables Capital Management Inc. bought a new stake in shares of Waste Management in the first quarter worth $102,000. Point72 Hong Kong Ltd grew its stake in shares of Waste Management by 1,095.4% in the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,194 shares during the last quarter. Braun Bostich & Associates Inc. grew its stake in shares of Waste Management by 546.0% in the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Bruderman Asset Management LLC bought a new stake in shares of Waste Management in the first quarter worth $127,000. 74.62% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on WM shares. BMO Capital Markets reissued a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a research note on Thursday, July 26th. ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Finally, Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $91.22.
Shares of WM opened at $92.03 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.48. The firm has a market cap of $39.33 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 1.89 and a beta of 0.70. Waste Management, Inc. has a 12 month low of $75.86 and a 12 month high of $92.67.
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, beating the Zacks’ consensus estimate of $0.99 by $0.02. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 earnings per share. sell-side analysts predict that Waste Management, Inc. will post 4.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be given a dividend of $0.465 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a yield of 2.02%. Waste Management’s dividend payout ratio (DPR) is currently 57.76%.
In other Waste Management news, Director Patrick W. Gross sold 406 shares of the company’s stock in a transaction 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 sale, the director now owns 24,149 shares of the company’s stock, valued at $2,009,679.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.
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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