AGF Investments Inc. trimmed its stake in Waste Management, Inc. (NYSE:WM) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,654,461 shares of the business services provider’s stock after selling 23,435 shares during the quarter. Waste Management accounts for 2.3% of AGF Investments Inc.’s portfolio, making the stock its 2nd biggest holding. AGF Investments Inc. owned about 0.61% of Waste Management worth $207,765,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in shares of Waste Management during the second quarter valued at $101,000. Northwest Investment Counselors LLC bought a new position in shares of Waste Management during the second quarter valued at $103,000. Bruderman Asset Management LLC bought a new position in shares of Waste Management during the second quarter valued at $110,000. FTB Advisors Inc. lifted its holdings in shares of Waste Management by 4.3% during the second 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. Finally, First Interstate Bank lifted its holdings in shares of Waste Management by 2.4% during the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 38 shares in the last quarter. 76.25% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on WM shares. KeyCorp reaffirmed a “buy” rating and set a $88.00 price target on shares of Waste Management in a report 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 report on Friday, October 13th. Credit Suisse Group set a $90.00 price target on Waste Management and gave the company a “buy” rating in a report on Monday, October 30th. Bank of America Corporation lowered their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Finally, Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $81.81.
Waste Management, Inc. (NYSE:WM) traded up $0.11 during trading on Friday, reaching $80.38. The company had a trading volume of 540,674 shares, compared to its average volume of 1,818,109. The stock has a market capitalization of $34,902.28, a PE ratio of 25.76, a PEG ratio of 2.61 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, Inc. has a 12 month low of $68.84 and a 12 month high of $82.87.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. Waste Management’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. equities research analysts anticipate that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, November 30th. Waste Management’s dividend payout ratio (DPR) is presently 54.84%.
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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