Alpha Cubed Investments LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 8.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,059 shares of the business services provider’s stock after selling 199 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Waste Management were worth $233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. acquired a new position in Waste Management in the first quarter worth approximately $30,000. Coastal Capital Group Inc. grew its position in Waste Management by 52.1% in the second quarter. Coastal Capital Group Inc. now owns 292 shares of the business services provider’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in Waste Management by 210.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 301 shares of the business services provider’s stock worth $32,000 after buying an additional 204 shares during the last quarter. Blue Square Asset Management LLC acquired a new position in Waste Management in the second quarter worth approximately $40,000. Finally, Bay Harbor Wealth Management LLC grew its position in Waste Management by 27.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 465 shares of the business services provider’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.
A number of equities analysts recently commented on WM shares. BMO Capital Markets raised their price objective on shares of Waste Management from $111.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Waste Management in a research note on Thursday, July 9th. JPMorgan Chase & Co. lowered shares of Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 price objective for the company. in a research note on Wednesday, September 23rd. They noted that the move was a valuation call. Morgan Stanley started coverage on shares of Waste Management in a research note on Tuesday. They issued an “equal weight” rating and a $119.00 price objective for the company. Finally, CIBC lowered shares of Waste Management from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Waste Management presently has an average rating of “Hold” and a consensus price target of $114.79.
In related news, Director Frank M. Clark sold 315 shares of Waste Management stock in a transaction on Monday, July 20th. The shares were sold at an average price of $106.95, for a total value of $33,689.25. Following the transaction, the director now owns 32,586 shares in the company, valued at approximately $3,485,072.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.
WM stock opened at $115.87 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. Waste Management, Inc. has a 1 year low of $85.34 and a 1 year high of $126.79. The company has a fifty day simple moving average of $113.85 and a 200 day simple moving average of $106.21. The firm has a market cap of $48.95 billion, a PE ratio of 30.65, a PEG ratio of 4.70 and a beta of 0.73.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 30th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.50 billion. As a group, analysts forecast that Waste Management, Inc. will post 3.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.545 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $2.18 annualized dividend and a yield of 1.88%. Waste Management’s dividend payout ratio (DPR) is presently 49.55%.
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 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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