Sigma Planning Corp increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 36.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,317 shares of the business services provider’s stock after acquiring an additional 8,860 shares during the period. Sigma Planning Corp’s holdings in Waste Management were worth $2,608,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Ifrah Financial Services Inc. raised its position in shares of Waste Management by 27.2% in the 3rd quarter. Ifrah Financial Services Inc. now owns 6,978 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 1,494 shares in the last quarter. Ardevora Asset Management LLP acquired a new position in shares of Waste Management in the 3rd quarter valued at approximately $35,425,000. Rhumbline Advisers raised its position in shares of Waste Management by 2.2% in the 3rd quarter. Rhumbline Advisers now owns 732,644 shares of the business services provider’s stock valued at $57,344,000 after purchasing an additional 16,040 shares in the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Waste Management by 20.1% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock valued at $13,440,000 after purchasing an additional 28,760 shares in the last quarter. Finally, First National Trust Co. raised its position in shares of Waste Management by 18.0% in the 3rd quarter. First National Trust Co. now owns 15,527 shares of the business services provider’s stock valued at $1,215,000 after purchasing an additional 2,368 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Waste Management, Inc. (WM) traded up $0.82 during midday trading on Tuesday, hitting $82.14. The stock had a trading volume of 1,902,800 shares, compared to its average volume of 1,671,143. Waste Management, Inc. has a 1-year low of $67.14 and a 1-year high of $82.87. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. The company has a market cap of $35,310.46, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.76.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. research analysts forecast that Waste Management, Inc. will post 3.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 dividend on an annualized basis and a yield of 2.07%. Waste Management’s payout ratio is currently 54.84%.
A number of brokerages have issued reports on WM. Stifel Nicolaus upped their target price on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. BMO Capital Markets upped their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $88.00 target price on shares of Waste Management in a research report on Friday, October 27th. Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Bank of America Corporation 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $81.81.
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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