Executive Wealth Management LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,553 shares of the business services provider’s stock after acquiring an additional 4,748 shares during the quarter. Executive Wealth Management LLC’s holdings in Waste Management were worth $4,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Hudock Inc. increased its holdings in Waste Management by 6.1% in the third quarter. Hudock Inc. now owns 2,325 shares of the business services provider’s stock worth $263,000 after purchasing an additional 134 shares in the last quarter. Tompkins Financial Corp increased its holdings in Waste Management by 1.5% in the third quarter. Tompkins Financial Corp now owns 47,738 shares of the business services provider’s stock worth $5,402,000 after purchasing an additional 721 shares in the last quarter. NuWave Investment Management LLC increased its holdings in shares of Waste Management by 3,478.0% during the third quarter. NuWave Investment Management LLC now owns 3,900 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 3,791 shares in the last quarter. Atlantic Trust LLC increased its holdings in shares of Waste Management by 7.6% during the third quarter. Atlantic Trust LLC now owns 17,851 shares of the business services provider’s stock valued at $2,020,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Coastal Investment Advisors Inc. increased its holdings in shares of Waste Management by 101.3% during the third quarter. Coastal Investment Advisors Inc. now owns 7,343 shares of the business services provider’s stock valued at $831,000 after acquiring an additional 3,696 shares in the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.
Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Waste Management from $111.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 31st. CIBC cut Waste Management from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 price objective on the stock. in a research report on Wednesday, September 23rd. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating and issued a $117.00 price objective on shares of Waste Management in a research report on Thursday, July 30th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $115.00 price objective on shares of Waste Management in a research report on Thursday, July 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $114.79.
NYSE WM traded down $2.45 during trading on Monday, reaching $114.25. The company’s stock had a trading volume of 24,232 shares, compared to its average volume of 2,217,337. The firm has a fifty day moving average of $114.00 and a 200 day moving average of $107.04. Waste Management, Inc. has a one year low of $85.34 and a one year high of $126.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 0.86. The stock has a market capitalization of $49.30 billion, a PE ratio of 30.87, a P/E/G ratio of 4.70 and a beta of 0.72.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 30th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. Research analysts expect that Waste Management, Inc. will post 3.84 earnings per share for the current fiscal year.
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 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.
Further Reading: Dead Cat Bounce
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