FinTrust Capital Advisors LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 68.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 455 shares of the business services provider’s stock after selling 1,000 shares during the period. FinTrust Capital Advisors LLC’s holdings in Waste Management were worth $51,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of WM. Coastal Capital Group Inc. boosted its stake in shares of Waste Management by 52.1% during the 2nd quarter. Coastal Capital Group Inc. now owns 292 shares of the business services provider’s stock valued at $31,000 after buying an additional 100 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Waste Management by 210.3% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 301 shares of the business services provider’s stock valued at $32,000 after buying an additional 204 shares during the period. Slow Capital Inc. acquired a new stake in shares of Waste Management during the 3rd quarter valued at $33,000. Blue Square Asset Management LLC acquired a new stake in shares of Waste Management during the 2nd quarter valued at $40,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Waste Management during the 3rd quarter valued at $40,000. 71.42% of the stock is owned by institutional investors.
Shares of WM opened at $120.35 on Friday. The company has a market capitalization of $50.86 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 4.70 and a beta of 0.72. 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 company’s fifty day moving average price is $115.88 and its 200 day moving average price is $109.66.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, November 2nd. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 3.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.18 annualized dividend and a dividend yield of 1.81%. Waste Management’s payout ratio is 49.55%.
In other news, EVP Charles C. Boettcher sold 2,558 shares of Waste Management stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $120.00, for a total transaction of $306,960.00. Following the sale, the executive vice president now directly owns 15,039 shares in the company, valued at approximately $1,804,680. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 9,442 shares of Waste Management stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.43, for a total transaction of $1,108,774.06. Following the sale, the vice president now owns 23,296 shares in the company, valued at $2,735,649.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,326 shares of company stock worth $8,323,999. Insiders own 0.16% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Argus raised their price target on shares of Waste Management from $110.00 to $122.00 and gave the company a “buy” rating in a report on Monday, August 24th. Raymond James raised their price target on shares of Waste Management from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Waste Management from $111.00 to $119.00 and gave the company a “hold” rating in a report on Wednesday, November 4th. Royal Bank of Canada restated a “neutral” rating on shares of Waste Management in a report on Sunday, November 15th. Finally, JPMorgan Chase & Co. downgraded shares of Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 price target on the stock. in a report on Wednesday, September 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $116.47.
Waste Management Company 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.
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