Piscataqua Savings Bank boosted its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 40.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,069 shares of the business services provider’s stock after buying an additional 1,756 shares during the period. Piscataqua Savings Bank’s holdings in Waste Management were worth $1,052,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Simmons Bank increased its stake in Waste Management by 12.5% during the first quarter. Simmons Bank now owns 2,695 shares of the business services provider’s stock worth $440,000 after acquiring an additional 300 shares during the last quarter. TimeScale Financial Inc. acquired a new position in Waste Management in the first quarter valued at about $49,000. Caliber Wealth Management LLC increased its position in shares of Waste Management by 26.2% during the first quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider’s stock valued at $1,520,000 after acquiring an additional 1,931 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Waste Management by 195.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 12,891 shares of the business services provider’s stock valued at $2,103,000 after acquiring an additional 8,521 shares during the period. Finally, Argent Trust Co boosted its position in shares of Waste Management by 18.5% during the 1st quarter. Argent Trust Co now owns 15,258 shares of the business services provider’s stock worth $2,490,000 after purchasing an additional 2,378 shares during the period. 78.34% of the stock is owned by institutional investors and hedge funds.
In other news, Director John C. Pope sold 198 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $168.40, for a total transaction of $33,343.20. Following the transaction, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Bruce E. Chinn sold 172 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total value of $27,423.68. Following the sale, the director now directly owns 822 shares in the company, valued at approximately $131,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Pope sold 198 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the sale, the director now owns 56,147 shares in the company, valued at $9,455,154.80. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Analysts Set New Price Targets
Waste Management Stock Performance
NYSE WM opened at $159.82 on Tuesday. The company has a fifty day moving average of $161.99 and a two-hundred day moving average of $162.47. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.82 and a quick ratio of 0.78. Waste Management, Inc. has a 1 year low of $148.31 and a 1 year high of $173.71. The company has a market capitalization of $64.74 billion, a PE ratio of 28.74, a P/E/G ratio of 2.72 and a beta of 0.72.
Waste Management (NYSE:WM – Get Free Report) last announced its earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). Waste Management had a return on equity of 33.81% and a net margin of 11.42%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the business posted $1.44 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 5.96 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.80 annualized dividend and a yield of 1.75%. Waste Management’s dividend payout ratio is currently 50.36%.
About Waste Management
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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