State of Alaska Department of Revenue Has $10.48 Million Stake in Waste Management, Inc. (NYSE:WM)

State of Alaska Department of Revenue boosted its stake in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 26.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,497 shares of the business services provider’s stock after acquiring an additional 14,355 shares during the quarter. State of Alaska Department of Revenue’s holdings in Waste Management were worth $10,478,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. JFS Wealth Advisors LLC raised its stake in Waste Management by 10.4% during the first quarter. JFS Wealth Advisors LLC now owns 688 shares of the business services provider’s stock worth $109,000 after acquiring an additional 65 shares in the last quarter. Edge Capital Group LLC raised its stake in Waste Management by 1.9% during the first quarter. Edge Capital Group LLC now owns 3,495 shares of the business services provider’s stock worth $554,000 after acquiring an additional 65 shares in the last quarter. Berger Financial Group Inc raised its stake in Waste Management by 4.2% during the first quarter. Berger Financial Group Inc now owns 1,612 shares of the business services provider’s stock worth $255,000 after acquiring an additional 65 shares in the last quarter. Clean Yield Group raised its stake in Waste Management by 9.1% during the first quarter. Clean Yield Group now owns 792 shares of the business services provider’s stock worth $126,000 after acquiring an additional 66 shares in the last quarter. Finally, Glassman Wealth Services raised its stake in Waste Management by 7.1% during the first quarter. Glassman Wealth Services now owns 1,007 shares of the business services provider’s stock worth $160,000 after acquiring an additional 67 shares in the last quarter. 74.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 22,082 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the transaction, the chief financial officer now owns 50,516 shares in the company, valued at $8,840,300. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Waste Management news, CFO Devina A. Rankin sold 22,082 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the transaction, the chief financial officer now owns 50,516 shares in the company, valued at $8,840,300. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John C. Pope sold 219 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the transaction, the director now owns 55,439 shares in the company, valued at approximately $8,437,261.41. The disclosure for this sale can be found here. Insiders have sold a total of 54,067 shares of company stock worth $9,292,271 over the last 90 days. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $169.34 on Monday. The business’s 50-day simple moving average is $166.15 and its 200 day simple moving average is $159.52. The stock has a market cap of $69.99 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 2.51 and a beta of 0.76. Waste Management, Inc. has a 12-month low of $138.58 and a 12-month high of $175.98. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95.

Waste Management (NYSE:WMGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.08. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Waste Management had a return on equity of 30.69% and a net margin of 11.27%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. As a group, research analysts anticipate that Waste Management, Inc. will post 5.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.54%. The ex-dividend date is Thursday, September 8th. Waste Management’s dividend payout ratio is 50.78%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer set a $160.00 target price on Waste Management in a research note on Tuesday, July 19th. Morgan Stanley raised their target price on Waste Management from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $164.86.

About Waste Management

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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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