Meeder Asset Management Inc. reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 58.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,489 shares of the business services provider’s stock after selling 12,042 shares during the period. Meeder Asset Management Inc.’s holdings in Waste Management were worth $767,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of WM. Clinton Group Inc. purchased a new position in Waste Management in the second quarter valued at approximately $268,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Waste Management by 18.1% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,833 shares of the business services provider’s stock valued at $637,000 after purchasing an additional 1,200 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Waste Management by 14.5% in the second quarter. State of Alaska Department of Revenue now owns 78,068 shares of the business services provider’s stock valued at $6,349,000 after purchasing an additional 9,890 shares during the last quarter. Trust Department MB Financial Bank N A purchased a new position in Waste Management in the second quarter valued at approximately $138,000. Finally, FormulaFolio Investments LLC purchased a new position in Waste Management in the second quarter valued at approximately $312,000. Institutional investors own 75.27% of the company’s stock.
WM has been the topic of several research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a research note on Thursday, July 26th. ValuEngine upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Thursday, September 20th. Oppenheimer reiterated a “buy” rating and issued a $95.00 price objective on shares of Waste Management in a research note on Thursday, October 25th. Finally, UBS Group set a $90.00 target price on shares of Waste Management and gave the company a “hold” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $95.50.
Shares of WM stock opened at $90.46 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 1 year low of $78.33 and a 1 year high of $92.85. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.64.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. As a group, sell-side analysts expect that Waste Management, Inc. will post 4.13 EPS for the current fiscal year.
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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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