First National Trust Co increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 19.8% in the fourth quarter, HoldingsChannel reports. The firm owned 18,600 shares of the business services provider’s stock after buying an additional 3,073 shares during the quarter. First National Trust Co’s holdings in Waste Management were worth $1,606,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. FTB Advisors Inc. increased its position in Waste Management by 4.3% during the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares in the last quarter. Gyroscope Capital Management Group LLC increased its position in Waste Management by 1.8% during the 2nd quarter. Gyroscope Capital Management Group LLC now owns 3,913 shares of the business services provider’s stock worth $287,000 after purchasing an additional 70 shares in the last quarter. Hall Laurie J Trustee increased its position in Waste Management by 1.0% during the 2nd quarter. Hall Laurie J Trustee now owns 18,555 shares of the business services provider’s stock worth $1,361,000 after purchasing an additional 175 shares in the last quarter. Marietta Wealth Management LLC increased its position in Waste Management by 3.9% during the 2nd quarter. Marietta Wealth Management LLC now owns 5,010 shares of the business services provider’s stock worth $367,000 after purchasing an additional 190 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Waste Management by 0.3% during the 2nd quarter. ProShare Advisors LLC now owns 67,498 shares of the business services provider’s stock worth $4,951,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 74.93% of the company’s stock.
A number of analysts recently commented on WM shares. Zacks Investment Research cut Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BMO Capital Markets restated a “buy” rating and issued a $85.00 price target on shares of Waste Management in a report on Friday, October 13th. KeyCorp restated a “buy” rating and issued a $88.00 price target on shares of Waste Management in a report on Friday, October 27th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, Bank of America lowered their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Buy” and an average target price of $86.78.
Shares of Waste Management, Inc. (WM) opened at $88.53 on Thursday. 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 capitalization of $38,440.00, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.75. Waste Management, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.73.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Waste Management had a return on equity of 28.77% and a net margin of 10.44%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. equities research analysts forecast that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
Waste Management declared that its board has authorized a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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