Cornerstone Advisors LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 167.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,541 shares of the business services provider’s stock after purchasing an additional 31,644 shares during the quarter. Cornerstone Advisors LLC’s holdings in Waste Management were worth $10,306,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. EagleClaw Capital Managment LLC boosted its holdings in Waste Management by 1.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 18,624 shares of the business services provider’s stock worth $3,798,000 after acquiring an additional 353 shares during the period. Money Concepts Capital Corp grew its position in Waste Management by 94.1% in the third quarter. Money Concepts Capital Corp now owns 45,939 shares of the business services provider’s stock valued at $9,368,000 after acquiring an additional 22,269 shares in the last quarter. Allworth Financial LP raised its stake in shares of Waste Management by 7.3% during the third quarter. Allworth Financial LP now owns 23,634 shares of the business services provider’s stock valued at $5,267,000 after purchasing an additional 1,608 shares during the period. Fisher Asset Management LLC raised its stake in shares of Waste Management by 11.4% during the third quarter. Fisher Asset Management LLC now owns 10,076 shares of the business services provider’s stock valued at $2,055,000 after purchasing an additional 1,030 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Waste Management by 11.7% during the third quarter. Russell Investments Group Ltd. now owns 734,729 shares of the business services provider’s stock worth $149,846,000 after purchasing an additional 77,109 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on WM. Jefferies Financial Group restated a “buy” rating and issued a $267.00 target price (up from $263.00) on shares of Waste Management in a research note on Thursday, October 29th. Citigroup dropped their price target on shares of Waste Management from $269.00 to $259.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $235.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Royal Bank Of Canada upped their price objective on shares of Waste Management from $244.00 to $247.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Finally, Barclays raised their target price on Waste Management from $277.00 to $283.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Eighteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $257.04.
Check Out Our Latest Stock Report on WM
Insiders Place Their Bets
In other Waste Management news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. This trade represents a 28.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Johnson Varkey sold 500 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $242.00, for a total transaction of $121,000.00. Following the transaction, the senior vice president directly owned 8,713 shares of the company’s stock, valued at approximately $2,108,546. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.18% of the company’s stock.
Waste Management Stock Performance
Shares of WM opened at $243.47 on Friday. The business’s 50 day moving average is $221.43 and its two-hundred day moving average is $225.87. Waste Management, Inc. has a 52-week low of $200.57 and a 52-week high of $248.13. The firm has a market cap of $96.81 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 3.17 and a beta of 0.38. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.21.
Waste Management (NYSE:WM – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the business posted $1.98 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.
Waste Management Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.9450 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management’s dividend payout ratio is currently 49.61%.
Waste Management Company Profile
Waste Management, Inc., doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure. WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.
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