Dimensional Fund Advisors LP lifted its holdings in Waste Management, Inc. (NYSE:WM) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,466,540 shares of the business services provider’s stock after buying an additional 25,065 shares during the quarter. Dimensional Fund Advisors LP owned about 0.34% of Waste Management worth $132,510,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Berkshire Asset Management LLC PA increased its stake in shares of Waste Management by 5.4% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 357,716 shares of the business services provider’s stock valued at $32,323,000 after acquiring an additional 18,440 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Waste Management by 97.0% in the 2nd quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock valued at $16,990,000 after acquiring an additional 103,546 shares during the last quarter. New England Asset Management Inc. increased its stake in shares of Waste Management by 270.5% in the 2nd quarter. New England Asset Management Inc. now owns 7,409 shares of the business services provider’s stock valued at $603,000 after acquiring an additional 5,409 shares during the last quarter. Parsec Financial Management Inc. bought a new stake in shares of Waste Management in the 3rd quarter valued at about $243,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Waste Management by 73.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 37,701 shares of the business services provider’s stock valued at $3,066,000 after acquiring an additional 15,932 shares during the last quarter. 75.16% of the stock is owned by institutional investors and hedge funds.
Shares of WM opened at $92.62 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84. Waste Management, Inc. has a 52-week low of $78.39 and a 52-week high of $95.49. The company has a market capitalization of $39.97 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. Equities analysts forecast that Waste Management, Inc. will post 4.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.465 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.86 annualized dividend and a dividend yield of 2.01%. Waste Management’s dividend payout ratio is presently 57.76%.
In related news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by insiders.
A number of analysts have recently commented on the company. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Thursday, September 20th. ValuEngine raised Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. BMO Capital Markets upped their price target on Waste Management to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. They noted that the move was a valuation call. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and upped their price target for the company from $84.00 to $107.00 in a research note on Tuesday. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $95.00 price target on shares of Waste Management in a research note on Thursday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $98.14.
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Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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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