2,741 Shares in Waste Management, Inc. (NYSE:WM) Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC purchased a new position in Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,741 shares of the business services provider’s stock, valued at approximately $585,000.

A number of other large investors have also modified their holdings of the stock. Parnassus Investments LLC lifted its stake in Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock worth $859,624,000 after acquiring an additional 16,213 shares during the last quarter. Norges Bank purchased a new stake in shares of Waste Management during the 4th quarter worth $784,486,000. Capital World Investors grew its stake in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after buying an additional 720,358 shares during the last quarter. Finally, Capital International Investors raised its stake in Waste Management by 0.3% in the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after buying an additional 5,103 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WM shares. BMO Capital Markets cut their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer decreased their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Up 0.5 %

Shares of Waste Management stock opened at $208.05 on Friday. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a market cap of $83.49 billion, a P/E ratio of 34.05, a PEG ratio of 2.32 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The firm has a fifty day moving average of $209.24 and a two-hundred day moving average of $208.76.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm earned $1.51 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management 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.