Accident Compensation Corp lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,833 shares of the business services provider’s stock after selling 2,500 shares during the quarter. Waste Management accounts for 2.3% of Accident Compensation Corp’s investment portfolio, making the stock its 8th biggest position. Accident Compensation Corp’s holdings in Waste Management were worth $8,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new stake in Waste Management in the second quarter valued at about $101,000. Bruderman Asset Management LLC bought a new stake in Waste Management in the second quarter valued at about $110,000. FTB Advisors Inc. increased its holdings in Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after buying an additional 65 shares during the last quarter. First Interstate Bank increased its holdings in Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after buying an additional 38 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.
Several analysts recently weighed in on WM shares. KeyCorp reissued a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a report on Friday, October 27th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Waste Management in a report on Friday, October 13th. Credit Suisse Group set a $90.00 price objective on Waste Management and gave the company a “buy” rating in a report on Monday, October 30th. Bank of America lowered their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company 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 issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $81.81.
Shares of Waste Management, Inc. (NYSE WM) traded up $0.17 during midday trading on Wednesday, hitting $83.32. The stock had a trading volume of 2,469,400 shares, compared to its average volume of 1,682,179. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market capitalization of $36,105.08, a P/E ratio of 26.65, a PEG ratio of 2.70 and a beta of 0.75. Waste Management, Inc. has a fifty-two week low of $68.84 and a fifty-two week high of $83.93.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. equities research analysts forecast that Waste Management, Inc. will post 3.2 earnings per share 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 given a dividend of $0.425 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.70 annualized dividend and a dividend yield of 2.04%. Waste Management’s dividend payout ratio is presently 54.84%.
In other news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.
Waste Management Company 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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