Credit Agricole S A lowered its holdings in Waste Management, Inc. (NYSE:WM) by 92.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 72,502 shares of the business services provider’s stock after selling 911,401 shares during the quarter. Credit Agricole S A’s holdings in Waste Management were worth $6,257,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. APG Asset Management N.V. grew its stake in Waste Management by 74.7% during the 4th quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock worth $303,469,000 after buying an additional 1,805,408 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Waste Management by 31.5% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,078,100 shares of the business services provider’s stock worth $162,653,000 after buying an additional 498,200 shares during the last quarter. Principal Financial Group Inc. grew its stake in Waste Management by 41.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,693,877 shares of the business services provider’s stock worth $132,580,000 after buying an additional 496,513 shares during the last quarter. Ardevora Asset Management LLP purchased a new position in Waste Management during the 3rd quarter worth approximately $35,425,000. Finally, JPMorgan Chase & Co. grew its stake in Waste Management by 145.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 740,279 shares of the business services provider’s stock worth $58,047,000 after buying an additional 439,252 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.
WM has been the topic of a number of research reports. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus restated a “buy” rating and set a $100.00 price target on shares of Waste Management in a research note on Thursday, January 4th. UBS Group upgraded Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Finally, Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Buy” and an average price target of $88.22.
Shares of Waste Management, Inc. (NYSE WM) opened at $86.32 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $37,707.94, a P/E ratio of 27.00, a PEG ratio of 1.97 and a beta of 0.70. Waste Management, Inc. has a 1-year low of $70.08 and a 1-year high of $89.73.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. sell-side analysts anticipate that Waste Management, Inc. will post 4.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a dividend of $0.465 per share. The ex-dividend date is Thursday, March 8th. This is a boost from Waste Management’s previous quarterly dividend of $0.43. This represents a $1.86 annualized dividend and a yield of 2.15%. Waste Management’s payout ratio is currently 38.55%.
Waste Management declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 14th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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Waste Management Company 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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