Hayek Kallen Investment Management lowered its position in Waste Management, Inc. (NYSE:WM) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,250 shares of the business services provider’s stock after selling 1,271 shares during the period. Waste Management comprises approximately 3.2% of Hayek Kallen Investment Management’s holdings, making the stock its 9th largest position. Hayek Kallen Investment Management’s holdings in Waste Management were worth $4,638,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new stake in Waste Management during the 2nd quarter worth $101,000. Northwest Investment Counselors LLC acquired a new position in Waste Management in the 2nd quarter worth $103,000. Bruderman Asset Management LLC acquired a new position in Waste Management in the 2nd quarter worth $110,000. Guardian Life Insurance Co. of America raised its stake in shares of Waste Management by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 14 shares in the last quarter. Finally, FTB Advisors Inc. raised its stake in shares of Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 76.42% of the company’s stock.
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Waste Management, Inc. (NYSE WM) opened at $81.32 on Friday. Waste Management, Inc. has a 12 month low of $66.40 and a 12 month high of $82.87. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. The stock has a market cap of $35,345.20, a price-to-earnings ratio of 26.09, a P/E/G ratio of 2.64 and a beta of 0.76.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. equities analysts anticipate that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s payout ratio is presently 54.84%.
A number of brokerages recently weighed in on WM. Oppenheimer Holdings, Inc. boosted their price objective on shares of Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets upped their target price on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the company a “buy” rating in a report on Monday, October 30th. Finally, KeyCorp reiterated a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and an average price target of $81.81.
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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