Private Advisor Group LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,688 shares of the business services provider’s stock after selling 2,123 shares during the period. Private Advisor Group LLC’s holdings in Waste Management were worth $3,893,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in WM. Intersect Capital LLC increased its stake in shares of Waste Management by 33.1% in the second quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 6,009 shares in the last quarter. Aviva PLC increased its stake in shares of Waste Management by 1.0% in the second quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after purchasing an additional 2,710 shares in the last quarter. AXA increased its stake in shares of Waste Management by 15.0% in the second quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after purchasing an additional 58,630 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Waste Management by 0.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,768,294 shares of the business services provider’s stock worth $129,703,000 after purchasing an additional 11,668 shares in the last quarter. Finally, Lincoln National Corp increased its stake in shares of Waste Management by 0.5% in the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock worth $323,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Shares of Waste Management, Inc. (WM) traded up $1.34 during trading on Tuesday, reaching $83.15. 2,263,400 shares of the company’s stock traded hands, compared to its average volume of 1,678,800. Waste Management, Inc. has a twelve month low of $68.84 and a twelve month high of $83.93. The company has a market capitalization of $35,523.23, a price-to-earnings ratio of 26.22, a PEG ratio of 2.66 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion during 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 in the previous year, the business posted $0.84 EPS. analysts anticipate that Waste Management, Inc. will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.04%. Waste Management’s payout ratio is 54.84%.
In related news, SVP Barry H. Caldwell sold 1,650 shares of Waste Management stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.
A number of research firms have recently commented on WM. BMO Capital Markets restated a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Stifel Nicolaus lowered shares of Waste Management from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, October 4th. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Bank of America cut their price objective on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, KeyCorp raised their price objective on shares of Waste Management from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and a consensus price target of $81.81.
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About Waste Management
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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