ProShare Advisors LLC raised its position in Waste Management, Inc. (NYSE:WM – Free Report) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,816 shares of the business services provider’s stock after buying an additional 8,490 shares during the period. ProShare Advisors LLC’s holdings in Waste Management were worth $8,944,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of WM. Providence Capital Advisors LLC bought a new position in shares of Waste Management during the 1st quarter valued at approximately $29,700,000. Moneta Group Investment Advisors LLC grew its position in shares of Waste Management by 110,208.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,778,550 shares of the business services provider’s stock valued at $749,659,000 after acquiring an additional 4,774,218 shares during the period. Norges Bank bought a new position in shares of Waste Management during the 4th quarter valued at approximately $658,370,000. Morgan Stanley grew its position in shares of Waste Management by 30.4% during the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock valued at $1,156,281,000 after acquiring an additional 1,718,449 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Waste Management by 194.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider’s stock valued at $192,988,000 after acquiring an additional 804,708 shares during the period. Institutional investors own 78.34% of the company’s stock.
Waste Management Stock Up 0.1 %
Shares of NYSE:WM opened at $160.48 on Friday. The firm has a fifty day moving average price of $161.99 and a two-hundred day moving average price of $162.37. 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 one year low of $148.31 and a one year high of $173.71. The company has a market cap of $65.00 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 2.72 and a beta of 0.72.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.74%. Waste Management’s dividend payout ratio (DPR) is presently 50.36%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. HSBC assumed coverage on Waste Management in a research note on Friday. They set a “buy” rating and a $192.00 price target for the company. Citigroup cut their price target on Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on shares of Waste Management in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Raymond James cut their price objective on shares of Waste Management from $185.00 to $179.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.25.
Get Our Latest Analysis on Waste Management
Insider Transactions at Waste Management
In other news, Director John C. Pope sold 198 shares of Waste Management 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John C. Pope sold 198 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $168.40, for a total value of $33,343.20. Following the completion of the sale, the director now owns 56,147 shares in the company, valued at approximately $9,455,154.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce E. Chinn sold 172 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the completion of the sale, the director now owns 822 shares of the company’s stock, valued at approximately $131,059.68. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.
Waste Management Company Profile
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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