California State Teachers Retirement System lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 708,064 shares of the business services provider’s stock after selling 20,350 shares during the period. California State Teachers Retirement System owned about 0.16% of Waste Management worth $61,106,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Two Sigma Investments LP grew its holdings in Waste Management by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 917,770 shares of the business services provider’s stock worth $79,204,000 after acquiring an additional 236,822 shares during the last quarter. Robecosam AG grew its holdings in Waste Management by 14.7% in the 4th quarter. Robecosam AG now owns 305,345 shares of the business services provider’s stock worth $26,348,000 after acquiring an additional 39,168 shares during the last quarter. Ellington Management Group LLC bought a new stake in Waste Management in the 4th quarter worth $1,027,000. Teachers Insurance & Annuity Association of America bought a new stake in Waste Management in the 4th quarter worth $1,108,000. Finally, Stone Ridge Asset Management LLC bought a new stake in Waste Management in the 4th quarter worth $9,061,000. 76.76% of the stock is currently owned by institutional investors.
In related news, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jeff M. Harris sold 8,820 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total transaction of $774,396.00. Following the transaction, the vice president now directly owns 80,203 shares of the company’s stock, valued at $7,041,823.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,291 shares of company stock valued at $9,154,833. 0.19% of the stock is currently owned by corporate insiders.
Shares of Waste Management, Inc. (WM) opened at $86.66 on Wednesday. Waste Management, Inc. has a 12-month low of $70.08 and a 12-month high of $89.73. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. The company has a market cap of $37,580.00, a PE ratio of 14.99, a PEG ratio of 1.97 and a beta of 0.70.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the company posted $0.75 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. research analysts predict that Waste Management, Inc. will post 4.04 earnings per share for the current year.
Waste Management declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a dividend of $0.465 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.43. This represents a $1.86 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, March 8th. Waste Management’s dividend payout ratio (DPR) is 32.18%.
Waste Management Profile
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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