Perpetual Ltd Has $15.82 Million Stake in Waste Management, Inc. (NYSE:WM)

by · The Markets Daily

Perpetual Ltd grew its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 3.7% during the first quarter, HoldingsChannel.com reports. The firm owned 68,338 shares of the business services provider’s stock after acquiring an additional 2,428 shares during the quarter. Perpetual Ltd’s holdings in Waste Management were worth $15,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nadler Financial Group Inc. increased its position in shares of Waste Management by 3.9% in the first quarter. Nadler Financial Group Inc. now owns 1,618 shares of the business services provider’s stock worth $375,000 after purchasing an additional 61 shares during the period. PDS Planning Inc lifted its position in Waste Management by 11.4% during the first quarter. PDS Planning Inc now owns 2,201 shares of the business services provider’s stock worth $510,000 after purchasing an additional 225 shares during the period. MFG Wealth Management Inc. acquired a new stake in Waste Management during the first quarter worth about $2,254,000. DLK Investment Management LLC increased its holdings in Waste Management by 1.2% in the 1st quarter. DLK Investment Management LLC now owns 33,330 shares of the business services provider’s stock valued at $7,716,000 after buying an additional 386 shares during the period. Finally, Penobscot Investment Management Company Inc. acquired a new position in shares of Waste Management in the 1st quarter valued at approximately $222,000. 80.40% of the stock is owned by institutional investors.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president now directly owns 16,542 shares of the company’s stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer now owns 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

WM stock opened at $226.86 on Friday. The company has a market capitalization of $91.29 billion, a P/E ratio of 34.22, a PEG ratio of 3.02 and a beta of 0.66. The company has a fifty day moving average price of $233.08 and a 200-day moving average price of $224.30. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58.

Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. Waste Management’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. As a group, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s dividend payout ratio is currently 49.77%.

Analysts Set New Price Targets

Several research firms recently issued reports on WM. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Wednesday. Hsbc Global Res raised Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday. UBS Group upped their price objective on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, CIBC lifted their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $250.71.

Check Out Our Latest Analysis on WM

Waste Management Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM – Free Report).