IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,649 shares of the business services provider's stock after acquiring an additional 2,593 shares during the quarter. Waste Management accounts for about 1.4% of IQ EQ FUND MANAGEMENT IRELAND Ltd's investment portfolio, making the stock its 16th largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Waste Management were worth $7,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Peoples Financial Services CORP. lifted its holdings in Waste Management by 769.6% in the 1st quarter. Peoples Financial Services CORP. now owns 400 shares of the business services provider's stock worth $63,000 after buying an additional 354 shares during the period. Resources Management Corp CT ADV lifted its holdings in Waste Management by 9.2% in the 1st quarter. Resources Management Corp CT ADV now owns 7,599 shares of the business services provider's stock worth $1,204,000 after buying an additional 638 shares during the period. FDx Advisors Inc. lifted its holdings in Waste Management by 1.8% in the 1st quarter. FDx Advisors Inc. now owns 6,049 shares of the business services provider's stock worth $959,000 after buying an additional 107 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in Waste Management by 6.6% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 21,991 shares of the business services provider's stock worth $3,486,000 after buying an additional 1,363 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Waste Management by 68.1% in the 1st quarter. CVA Family Office LLC now owns 765 shares of the business services provider's stock worth $121,000 after buying an additional 310 shares during the period. Hedge funds and other institutional investors own 74.74% of the company's stock.
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Waste Management Stock Up 0.3 %
WM traded up $0.55 during trading on Friday, hitting $159.83. 1,486,224 shares of the company's stock traded hands, compared to its average volume of 1,743,996. The company's 50 day simple moving average is $167.09 and its two-hundred day simple moving average is $160.65. 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 12-month low of $138.58 and a 12-month high of $175.98. The stock has a market capitalization of $66.06 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 2.05 and a beta of 0.75.
Waste Management (NYSE:WM – Get Rating) last issued its earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.84 billion. During the same period last year, the business posted $1.27 EPS. The company's revenue was up 12.3% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 5.69 earnings per share for the current fiscal year.
Waste Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.63%. Waste Management's dividend payout ratio (DPR) is currently 50.78%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Waste Management from $175.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 27th. StockNews.com began coverage on Waste Management in a research report on Wednesday, October 12th. They set a "strong-buy" rating for the company. Finally, Oppenheimer reduced their price objective on Waste Management to $169.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $168.29.
Insider Transactions at Waste Management
In related news, CFO Devina A. Rankin sold 22,082 shares of Waste Management stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the transaction, the chief financial officer now directly owns 50,516 shares in the company, valued at $8,840,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Waste Management news, CFO Devina A. Rankin sold 22,082 shares of the firm's stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the sale, the chief financial officer now directly owns 50,516 shares of the company's stock, valued at $8,840,300. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 8,971 shares of the firm's stock in a transaction dated 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 sale, the vice president now directly owns 32,221 shares in the company, valued at $5,472,092.43. The disclosure for this sale can be found here. Insiders have sold a total of 53,848 shares of company stock worth $9,258,942 in the last ninety days. Insiders own 0.18% of the company's stock.
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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