Putnam Investments LLC Buys 1,278 Shares of Waste Management, Inc. (NYSE:WM)

Putnam Investments LLC grew its position in Waste Management, Inc. (NYSE:WM) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,713 shares of the business services provider’s stock after purchasing an additional 1,278 shares during the quarter. Putnam Investments LLC’s holdings in Waste Management were worth $4,032,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Simmons Bank increased its stake in shares of Waste Management by 12.5% in the first quarter. Simmons Bank now owns 2,695 shares of the business services provider’s stock worth $440,000 after purchasing an additional 300 shares during the period. TimeScale Financial Inc. bought a new position in Waste Management in the 1st quarter worth approximately $49,000. Caliber Wealth Management LLC lifted its holdings in shares of Waste Management by 26.2% during the first quarter. Caliber Wealth Management LLC now owns 9,314 shares of the business services provider’s stock worth $1,520,000 after buying an additional 1,931 shares during the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of Waste Management by 195.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 12,891 shares of the business services provider’s stock worth $2,103,000 after acquiring an additional 8,521 shares during the last quarter. Finally, Argent Trust Co increased its position in Waste Management by 18.5% during the first quarter. Argent Trust Co now owns 15,258 shares of the business services provider’s stock worth $2,490,000 after acquiring an additional 2,378 shares during the period. 78.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com began coverage on shares of Waste Management in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup lowered their price target on Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Raymond James decreased their price objective on Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th. BMO Capital Markets cut their target price on Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Finally, HSBC began coverage on shares of Waste Management in a research note on Friday. They set a “buy” rating and a $192.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $180.25.

Insider Activity

In other Waste Management news, Director John C. Pope sold 198 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the sale, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John C. Pope sold 198 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $168.40, for a total value of $33,343.20. Following the transaction, the director now owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the sale, the director now directly owns 822 shares of the company’s stock, valued at $131,059.68. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Waste Management Price Performance

Waste Management stock opened at $160.48 on Friday. The business’s fifty day moving average is $161.99 and its two-hundred day moving average is $162.37. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.78 and a current ratio of 0.82. The firm has a market cap of $65.00 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.72 and a beta of 0.72. Waste Management, Inc. has a 52 week low of $148.31 and a 52 week high of $173.71.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, July 25th. The business services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). Waste Management had a return on equity of 33.81% and a net margin of 11.42%. The company had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the company earned $1.44 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Waste Management, Inc. will post 5.96 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.80 annualized dividend and a dividend yield of 1.74%. Waste Management’s dividend payout ratio (DPR) is currently 50.36%.

About Waste Management

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.