Marshall Wace North America L.P. lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 48.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,757 shares of the business services provider’s stock after selling 271,079 shares during the quarter. Marshall Wace North America L.P.’s holdings in Waste Management were worth $26,272,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WM. Almanack Investment Partners LLC. acquired a new stake in shares of Waste Management in the 3rd quarter worth $112,000. Point72 Hong Kong Ltd raised its stake in Waste Management by 1,095.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,194 shares during the last quarter. Braun Bostich & Associates Inc. raised its stake in Waste Management by 546.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after acquiring an additional 1,223 shares during the last quarter. Vigilant Capital Management LLC raised its stake in Waste Management by 200.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Waste Management by 113.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the business services provider’s stock worth $137,000 after acquiring an additional 808 shares during the last quarter. 75.16% of the stock is currently owned by institutional investors and hedge funds.
NYSE WM opened at $91.21 on Friday. The stock has a market cap of $39.59 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.82 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $78.39 and a fifty-two week high of $95.49. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.04. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. Analysts forecast that Waste Management, Inc. will post 4.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.465 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.04%. Waste Management’s payout ratio is currently 57.76%.
In related news, VP Jeff M. Harris sold 24,500 shares of Waste Management stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Devina A. Rankin sold 8,107 shares of Waste Management stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the transaction, the chief financial officer now owns 21,373 shares of the company’s stock, valued at approximately $2,017,824.93. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research reiterated a “hold” rating and set a $103.00 price objective on shares of Waste Management in a research note on Saturday, November 17th. Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $107.00 in a research note on Tuesday. Oppenheimer reiterated a “buy” rating and set a $95.00 price objective on shares of Waste Management in a research note on Thursday, October 25th. Finally, Raymond James reiterated a “buy” rating on shares of Waste Management in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $98.14.
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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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