Financial Advocates Investment Management purchased a new stake in shares of Waste Management (NYSE:WM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,362 shares of the business services provider’s stock, valued at approximately $204,000.
Other hedge funds also recently made changes to their positions in the company. MHI Funds LLC acquired a new position in Waste Management during the fourth quarter valued at approximately $184,000. Cerebellum GP LLC acquired a new position in Waste Management during the fourth quarter valued at approximately $186,000. Capital Guardian Trust Co. acquired a new position in Waste Management during the third quarter valued at approximately $193,000. FTB Advisors Inc. grew its holdings in Waste Management by 44.2% during the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in Waste Management during the fourth quarter valued at approximately $197,000. Institutional investors own 76.71% of the company’s stock.
Several equities analysts have commented on WM shares. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. UBS upgraded Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Raymond James Financial upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday, February 16th. Finally, Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and a consensus price target of $90.44.
Shares of WM stock opened at $82.90 on Friday. The stock has a market cap of $37,261.26, a price-to-earnings ratio of 18.80, a PEG ratio of 1.95 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. Waste Management has a 52 week low of $70.08 and a 52 week high of $89.73.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. research analysts expect that Waste Management will post 4.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a $0.465 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.86 annualized dividend and a dividend yield of 2.24%. Waste Management’s dividend payout ratio (DPR) is presently 42.18%.
Waste Management declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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