Candriam Luxembourg S.C.A. boosted its stake in Waste Management, Inc. (NYSE:WM) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,862 shares of the business services provider’s stock after purchasing an additional 1,504 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Waste Management were worth $4,529,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bank of Nova Scotia lifted its stake in Waste Management by 23.4% in the 1st quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock valued at $30,005,000 after purchasing an additional 78,100 shares during the last quarter. Intersect Capital LLC lifted its stake in Waste Management by 33.1% in the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 6,009 shares during the last quarter. Aviva PLC lifted its stake in Waste Management by 1.0% in the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock valued at $20,328,000 after purchasing an additional 2,710 shares during the last quarter. AXA lifted its stake in Waste Management by 15.0% in the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock valued at $33,044,000 after purchasing an additional 58,630 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in Waste Management by 28.6% in the 1st quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 1,121 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.
WM has been the subject of several research reports. Bank of America Corporation dropped 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 note on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and set a $88.00 price target on shares of Waste Management in a research note on Friday, October 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price target on shares of Waste Management in a research note on Friday, October 13th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, July 19th. Finally, Stifel Nicolaus raised their price target on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.81.
Waste Management, Inc. (WM) opened at $82.14 on Tuesday. Waste Management, Inc. has a 52 week low of $67.14 and a 52 week high of $82.87. The stock has a market cap of $35,310.46, a price-to-earnings ratio of 26.06, a PEG ratio of 2.64 and a beta of 0.76. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm earned $0.84 earnings per share. Waste Management’s quarterly revenue was up 4.7% on a year-over-year basis. sell-side analysts forecast that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, November 30th. Waste Management’s dividend payout ratio is presently 54.84%.
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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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