Arden Trust Co cut its holdings in Waste Management, Inc. (NYSE:WM) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,864 shares of the business services provider’s stock after selling 385 shares during the period. Arden Trust Co’s holdings in Waste Management were worth $890,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Vigilant Capital Management LLC lifted its position in Waste Management by 2.7% in the third quarter. Vigilant Capital Management LLC now owns 150,249 shares of the business services provider’s stock valued at $17,004,000 after purchasing an additional 3,921 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Waste Management by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 26,370 shares of the business services provider’s stock worth $2,984,000 after buying an additional 635 shares during the period. Gyroscope Capital Management Group LLC increased its stake in shares of Waste Management by 3.5% in the third quarter. Gyroscope Capital Management Group LLC now owns 5,757 shares of the business services provider’s stock worth $652,000 after buying an additional 193 shares during the period. Red Door Wealth Management LLC raised its holdings in Waste Management by 2.0% during the 3rd quarter. Red Door Wealth Management LLC now owns 8,983 shares of the business services provider’s stock valued at $1,018,000 after buying an additional 180 shares during the last quarter. Finally, SL Advisors LLC boosted its position in Waste Management by 9.2% during the 3rd quarter. SL Advisors LLC now owns 5,602 shares of the business services provider’s stock valued at $634,000 after buying an additional 472 shares during the period. 71.42% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Waste Management in a research note on Tuesday, October 13th. They set an “equal weight” rating and a $119.00 price objective for the company. CIBC lowered Waste Management from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, July 14th. BMO Capital Markets increased their price objective on Waste Management from $111.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. cut Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 target price on the stock. in a research note on Wednesday, September 23rd. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $117.00 price target on shares of Waste Management in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Waste Management presently has an average rating of “Hold” and a consensus target price of $114.79.
In other Waste Management news, Director Frank M. Clark sold 315 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $106.95, for a total transaction of $33,689.25. Following the completion of the sale, the director now directly owns 32,586 shares in the company, valued at approximately $3,485,072.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.
WM opened at $115.87 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. The company has a market cap of $48.95 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 4.70 and a beta of 0.73. The stock has a fifty day simple moving average of $113.85 and a two-hundred day simple moving average of $106.21. Waste Management, Inc. has a 12-month low of $85.34 and a 12-month high of $126.79.
Waste Management (NYSE:WM) last released its earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.50 billion. On average, analysts predict that Waste Management, Inc. will post 3.83 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 3rd. Waste Management’s payout ratio is 49.55%.
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.
Read More: Support Level
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.