Cadence Capital Management LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,345 shares of the business services provider’s stock after selling 2,470 shares during the period. Cadence Capital Management LLC’s holdings in Waste Management were worth $1,171,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Toth Financial Advisory Corp increased its holdings in Waste Management by 148.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,600 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 955 shares during the period. Clean Yield Group increased its holdings in Waste Management by 73.9% during the 3rd quarter. Clean Yield Group now owns 739 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 314 shares during the period. IFM Investors Pty Ltd increased its holdings in Waste Management by 12.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 33,546 shares of the business services provider’s stock valued at $3,796,000 after purchasing an additional 3,842 shares during the period. Surevest LLC increased its holdings in Waste Management by 5.6% during the 3rd quarter. Surevest LLC now owns 29,873 shares of the business services provider’s stock valued at $3,381,000 after purchasing an additional 1,592 shares during the period. Finally, Nwam LLC increased its holdings in Waste Management by 6.2% during the 3rd quarter. Nwam LLC now owns 10,827 shares of the business services provider’s stock valued at $1,225,000 after purchasing an additional 636 shares during the period. Institutional investors own 71.42% of the company’s stock.
A number of brokerages recently issued reports on WM. Argus boosted their price target on Waste Management from $110.00 to $122.00 and gave the company a “buy” rating in a report on Monday, August 24th. BMO Capital Markets upped their target price on Waste Management from $111.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Oppenheimer reiterated a “buy” rating and set a $117.00 target price on shares of Waste Management in a report on Thursday, July 30th. Morgan Stanley began coverage on Waste Management in a report on Tuesday, October 13th. They set an “equal weight” rating and a $119.00 target price on the stock. Finally, CIBC downgraded Waste Management from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $114.79.
Shares of Waste Management stock traded up $0.60 during midday trading on Friday, hitting $115.87. The company had a trading volume of 1,910,147 shares, compared to its average volume of 2,252,601. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88. The stock has a market capitalization of $48.95 billion, a P/E ratio of 30.65, a P/E/G ratio of 4.70 and a beta of 0.73. The company has a 50 day moving average of $113.85 and a 200 day moving average of $106.21. Waste Management, Inc. has a 52-week low of $85.34 and a 52-week high of $126.79.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.50 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. Equities research analysts forecast that Waste Management, Inc. will post 3.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $0.545 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $2.18 annualized dividend and a yield of 1.88%. Waste Management’s dividend payout ratio (DPR) is presently 49.55%.
About Waste Management
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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