Northside Capital Management LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,270 shares of the business services provider’s stock, valued at approximately $261,000.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Waste Management by 0.5% during the second quarter. Vanguard Group Inc. now owns 35,963,494 shares of the business services provider’s stock worth $4,149,109,000 after buying an additional 174,451 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Waste Management by 3.1% during the second quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after buying an additional 976,898 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Waste Management by 0.6% during the second quarter. Northern Trust Corp now owns 5,126,154 shares of the business services provider’s stock worth $591,404,000 after buying an additional 29,757 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Waste Management by 0.7% during the second quarter. AQR Capital Management LLC now owns 4,069,937 shares of the business services provider’s stock worth $469,549,000 after buying an additional 27,195 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Waste Management by 12.7% during the second quarter. Invesco Ltd. now owns 3,864,997 shares of the business services provider’s stock worth $445,904,000 after buying an additional 435,062 shares during the last quarter. 73.17% of the stock is owned by hedge funds and other institutional investors.
In other Waste Management news, VP Michael J. Watson sold 8,019 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total value of $957,468.60. Following the sale, the vice president now directly owns 17,254 shares in the company, valued at $2,060,127.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charles C. Boettcher sold 589 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $115.95, for a total value of $68,294.55. Following the completion of the sale, the senior vice president now owns 3,147 shares in the company, valued at $364,894.65. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock worth $1,619,433 over the last quarter. Company insiders own 0.14% of the company’s stock.
WM has been the subject of a number of research analyst reports. CIBC reiterated a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. ValuEngine lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank assumed coverage on Waste Management in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. Stifel Nicolaus upped their target price on Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Oppenheimer restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $116.82.
Shares of NYSE WM traded down $0.54 during trading hours on Friday, reaching $116.90. The stock had a trading volume of 61,177 shares, compared to its average volume of 1,957,810. The business’s fifty day moving average is $116.08 and its two-hundred day moving average is $112.49. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. The company has a market cap of $48.69 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.10 and a beta of 0.61. Waste Management, Inc. has a twelve month low of $83.22 and a twelve month high of $121.77.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Sell-side analysts forecast that Waste Management, Inc. will post 4.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.512 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, September 5th. Waste Management’s dividend payout ratio (DPR) is 48.81%.
Waste Management 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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