Mirae Asset Global Investments Co. Ltd. Raises Stake in Waste Management, Inc. (NYSE:WM)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 12.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 100,423 shares of the business services provider’s stock after purchasing an additional 11,118 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Waste Management were worth $15,917,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its position in Waste Management by 10.4% in the 1st quarter. JFS Wealth Advisors LLC now owns 688 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 65 shares in the last quarter. Edge Capital Group LLC grew its position in shares of Waste Management by 1.9% during the first quarter. Edge Capital Group LLC now owns 3,495 shares of the business services provider’s stock worth $554,000 after buying an additional 65 shares in the last quarter. Berger Financial Group Inc grew its position in shares of Waste Management by 4.2% during the first quarter. Berger Financial Group Inc now owns 1,612 shares of the business services provider’s stock worth $255,000 after buying an additional 65 shares in the last quarter. Clean Yield Group grew its position in shares of Waste Management by 9.1% during the first quarter. Clean Yield Group now owns 792 shares of the business services provider’s stock worth $126,000 after buying an additional 66 shares in the last quarter. Finally, Glassman Wealth Services grew its position in shares of Waste Management by 7.1% during the first quarter. Glassman Wealth Services now owns 1,007 shares of the business services provider’s stock worth $160,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 74.74% of the company’s stock.

Waste Management Price Performance

Shares of NYSE WM opened at $169.34 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.95. Waste Management, Inc. has a twelve month low of $138.58 and a twelve month high of $175.98. The stock has a 50 day moving average of $166.15 and a two-hundred day moving average of $159.52. The stock has a market cap of $69.99 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.51 and a beta of 0.76.

Waste Management (NYSE:WMGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.08. Waste Management had a return on equity of 30.69% and a net margin of 11.27%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 5.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 8th. Waste Management’s dividend payout ratio (DPR) is presently 50.78%.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 8,971 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the completion of the sale, the vice president now owns 32,221 shares in the company, valued at $5,472,092.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John C. Pope sold 219 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the sale, the director now directly owns 55,439 shares in the company, valued at $8,437,261.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 8,971 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $169.83, for a total value of $1,523,544.93. Following the completion of the sale, the vice president now owns 32,221 shares in the company, valued at $5,472,092.43. The disclosure for this sale can be found here. Insiders sold 54,067 shares of company stock worth $9,292,271 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Waste Management from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 20th. Oppenheimer set a $160.00 target price on Waste Management in a research note on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $164.86.

About Waste Management

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