Sciencast Management LP trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,905 shares of the business services provider’s stock after selling 2,252 shares during the quarter. Sciencast Management LP’s holdings in Waste Management were worth $1,143,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. HL Financial Services LLC boosted its position in shares of Waste Management by 20.8% during the 3rd quarter. HL Financial Services LLC now owns 3,584 shares of the business services provider’s stock worth $280,000 after acquiring an additional 618 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in shares of Waste Management by 20.3% in the 4th quarter. Oakworth Capital Inc. now owns 3,796 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 641 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Waste Management by 7.1% in the 4th quarter. Sowell Financial Services LLC now owns 9,653 shares of the business services provider’s stock valued at $849,000 after purchasing an additional 644 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in shares of Waste Management by 0.9% in the 3rd quarter. Pittenger & Anderson Inc. now owns 78,895 shares of the business services provider’s stock valued at $6,175,000 after purchasing an additional 665 shares during the last quarter. Finally, Trustmark National Bank Trust Department lifted its holdings in shares of Waste Management by 12.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 6,034 shares of the business services provider’s stock valued at $472,000 after purchasing an additional 685 shares during the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on WM. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a report on Monday, January 8th. UBS Group raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price on shares of Waste Management in a report on Thursday, January 4th. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a report on Friday, February 16th. Finally, Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Ten research analysts have rated the stock with a buy rating, Waste Management presently has a consensus rating of “Buy” and a consensus target price of $90.13.
Shares of Waste Management, Inc. (WM) opened at $86.67 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The company has a market capitalization of $37,820.70, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70. Waste Management, Inc. has a one year low of $70.08 and a one year high of $89.73.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. equities research analysts predict that Waste Management, Inc. will post 4.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase 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 dividend payout ratio is currently 42.18%.
Waste Management declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
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About Waste Management
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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