Canton Hathaway LLC Purchases New Holdings in Waste Management, Inc. (WM)

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Canton Hathaway LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,600 shares of the business services provider’s stock, valued at approximately $596,000. Waste Management comprises approximately 0.4% of Canton Hathaway LLC’s holdings, making the stock its 27th largest position.

A number of other large investors have also recently bought and sold shares of the business. Macquarie Group Ltd. boosted its position in Waste Management by 7.8% in the 2nd quarter. Macquarie Group Ltd. now owns 9,258,582 shares of the business services provider’s stock valued at $753,094,000 after buying an additional 669,355 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Waste Management by 0.6% during the second quarter. Wells Fargo & Company MN now owns 6,704,452 shares of the business services provider’s stock worth $545,340,000 after purchasing an additional 42,469 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Waste Management by 0.3% during the second quarter. Janus Henderson Group PLC now owns 4,158,613 shares of the business services provider’s stock worth $338,262,000 after purchasing an additional 11,474 shares during the last quarter. Morgan Stanley lifted its position in shares of Waste Management by 87.4% during the second quarter. Morgan Stanley now owns 3,969,666 shares of the business services provider’s stock worth $322,893,000 after purchasing an additional 1,851,169 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Waste Management by 1.4% during the second quarter. Voya Investment Management LLC now owns 3,588,265 shares of the business services provider’s stock worth $291,870,000 after purchasing an additional 51,080 shares during the last quarter. 74.62% of the stock is owned by institutional investors.

Shares of NYSE WM opened at $88.55 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.48. Waste Management, Inc. has a 52-week low of $76.54 and a 52-week high of $92.85. The stock has a market capitalization of $38.74 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the company posted $0.81 earnings per share. Waste Management’s revenue was up 1.7% on a year-over-year basis. As a group, analysts anticipate that Waste Management, Inc. will post 4.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were issued a $0.465 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a yield of 2.10%. Waste Management’s dividend payout ratio is currently 57.76%.

In other Waste Management news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total value of $33,787.32. Following the transaction, the director now owns 24,149 shares of the company’s stock, valued at $2,009,679.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Several brokerages have recently commented on WM. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Thursday, September 20th. ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Finally, BMO Capital Markets increased their price target on shares of Waste Management to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $94.38.

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 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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