Colonial Trust Advisors Has $3.65 Million Position in Waste Management, Inc. (WM)
Colonial Trust Advisors boosted its holdings in Waste Management, Inc. (NYSE:WM) by 65.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,688 shares of the business services provider’s stock after acquiring an additional 19,682 shares during the quarter. Colonial Trust Advisors’ holdings in Waste Management were worth $3,645,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its stake in Waste Management by 2,611.5% during the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares during the last quarter. Janus Henderson Group PLC grew its stake in Waste Management by 7,400.8% during the second quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock worth $316,712,000 after buying an additional 4,260,260 shares during the last quarter. Renaissance Technologies LLC grew its stake in Waste Management by 95.0% during the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock worth $281,274,000 after buying an additional 1,879,300 shares during the last quarter. Vanguard Group Inc. grew its stake in Waste Management by 5.8% during the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after buying an additional 1,790,546 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its stake in Waste Management by 8,786.6% during the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock worth $12,314,000 after buying an additional 893,068 shares during the last quarter. 74.93% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Pope sold 453 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Waste Management, Inc. (WM) traded up 0.26% during mid-day trading on Thursday, hitting $76.53. 869,007 shares of the stock traded hands. The stock has a market capitalization of $33.68 billion, a PE ratio of 26.21 and a beta of 0.74. The company has a 50 day moving average price of $77.23 and a 200-day moving average price of $74.35. Waste Management, Inc. has a one year low of $61.08 and a one year high of $79.28.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Equities analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s payout ratio is presently 58.42%.
Several brokerages have weighed in on WM. Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday. BMO Capital Markets began coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. Credit Suisse Group upped their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Waste Management currently has an average rating of “Hold” and a consensus price target of $75.74.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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