State of Alaska Department of Revenue Buys 14,355 Shares of Waste Management, Inc. (NYSE:WM)

State of Alaska Department of Revenue grew its stake in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 26.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 68,497 shares of the business services provider’s stock after acquiring an additional 14,355 shares during the quarter. State of Alaska Department of Revenue’s holdings in Waste Management were worth $10,478,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Covington Capital Management lifted its position in shares of Waste Management by 3.6% during the 2nd quarter. Covington Capital Management now owns 106,852 shares of the business services provider’s stock valued at $16,346,000 after acquiring an additional 3,729 shares during the period. Apella Capital LLC lifted its position in shares of Waste Management by 33.0% during the 2nd quarter. Apella Capital LLC now owns 2,660 shares of the business services provider’s stock valued at $407,000 after acquiring an additional 660 shares during the period. Moody National Bank Trust Division bought a new stake in shares of Waste Management during the 2nd quarter valued at $660,000. Peoples Financial Services CORP. lifted its position in shares of Waste Management by 522.3% during the 2nd quarter. Peoples Financial Services CORP. now owns 2,489 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 2,089 shares during the period. Finally, Vigilant Capital Management LLC raised its holdings in shares of Waste Management by 3.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 173,948 shares of the business services provider’s stock worth $26,611,000 after buying an additional 5,527 shares in the last quarter. 74.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WM has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Waste Management from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 20th. Oppenheimer set a $160.00 price target on Waste Management in a report 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $164.86.

Waste Management Price Performance

Shares of WM opened at $169.34 on Monday. Waste Management, Inc. has a 12-month low of $138.58 and a 12-month high of $175.98. The business has a 50-day simple moving average of $166.15 and a two-hundred day simple moving average of $159.52. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95. The stock has a market cap of $69.99 billion, a PE ratio of 33.07, a PEG ratio of 2.51 and a beta of 0.76.

Waste Management (NYSE:WMGet Rating) last issued its earnings results on Wednesday, July 27th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 5.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.54%. Waste Management’s payout ratio is presently 50.78%.

Insiders Place Their Bets

In other Waste Management news, Director John C. Pope sold 219 shares of the company’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the completion of the transaction, the director now owns 55,439 shares of the company’s stock, valued at approximately $8,437,261.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John C. Pope sold 219 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the completion of the sale, the director now owns 55,439 shares of the company’s stock, valued at $8,437,261.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Devina A. Rankin sold 22,082 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $175.00, for a total value of $3,864,350.00. Following the completion of the sale, the chief financial officer now directly owns 50,516 shares of the company’s stock, valued at approximately $8,840,300. The disclosure for this sale can be found here. Insiders sold a total of 54,067 shares of company stock valued at $9,292,271 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

About Waste Management

(Get Rating)

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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