Moors & Cabot Inc. increased its position in Waste Management, Inc. (NYSE:WM) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,985 shares of the business services provider’s stock after buying an additional 3,799 shares during the quarter. Moors & Cabot Inc.’s holdings in Waste Management were worth $2,189,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Waste Management during the second quarter worth $101,000. Bruderman Asset Management LLC acquired a new stake in shares of Waste Management during the second quarter worth $110,000. FTB Advisors Inc. raised its position in shares of Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the period. First Interstate Bank raised its position in shares of Waste Management by 2.4% during the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after purchasing an additional 38 shares during the period. Finally, Hudock Capital Group LLC raised its position in shares of Waste Management by 0.6% during the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock worth $151,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.
Waste Management, Inc. (WM) traded up $0.70 during trading hours on Thursday, reaching $85.34. The company had a trading volume of 2,069,800 shares, compared to its average volume of 1,687,735. The firm has a market capitalization of $37,060.00, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. Waste Management, Inc. has a 52-week low of $69.00 and a 52-week high of $85.87. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. Waste Management’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. sell-side analysts anticipate that Waste Management, Inc. will post 3.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s payout ratio is 54.66%.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on WM. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $95.00 in a research report on Monday. BMO Capital Markets boosted their target price on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and set a $88.00 target price on shares of Waste Management in a research report on Friday, October 27th. Bank of America cut their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Finally, Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Buy” and an average price target of $83.31.
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Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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