Sitrin Capital Management LLC Buys 111 Shares of Waste Management, Inc. (NYSE:WM)

Sitrin Capital Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,226 shares of the business services provider’s stock after acquiring an additional 111 shares during the quarter. Waste Management comprises about 3.7% of Sitrin Capital Management LLC’s portfolio, making the stock its 11th largest holding. Sitrin Capital Management LLC’s holdings in Waste Management were worth $6,875,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parnassus Investments LLC grew its position in shares of Waste Management by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after purchasing an additional 16,213 shares in the last quarter. Norges Bank purchased a new position in Waste Management during the 4th quarter valued at approximately $784,486,000. Capital World Investors increased its stake in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Waste Management by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,997,367 shares of the business services provider’s stock worth $357,729,000 after acquiring an additional 38,828 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Waste Management by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,931,135 shares of the business services provider’s stock valued at $345,851,000 after acquiring an additional 17,254 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 0.3 %

Shares of WM traded down $0.64 during midday trading on Friday, reaching $205.26. 1,002,048 shares of the stock were exchanged, compared to its average volume of 1,706,787. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company’s 50 day moving average is $208.66 and its two-hundred day moving average is $206.37. The company has a market capitalization of $82.33 billion, a P/E ratio of 33.59, a PEG ratio of 2.27 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Eleven research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Company 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.