Coastline Trust Co Has $2.63 Million Position in Waste Management, Inc. (WM)

Coastline Trust Co grew its stake in Waste Management, Inc. (NYSE:WM) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,130 shares of the business services provider’s stock after acquiring an additional 1,140 shares during the period. Coastline Trust Co’s holdings in Waste Management were worth $2,633,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Windward Capital Management Co. CA lifted its position in shares of Waste Management by 2.3% in the 3rd quarter. Windward Capital Management Co. CA now owns 25,359 shares of the business services provider’s stock worth $2,291,000 after purchasing an additional 563 shares during the period. Exeter Financial LLC lifted its position in shares of Waste Management by 3.5% in the 2nd quarter. Exeter Financial LLC now owns 16,994 shares of the business services provider’s stock worth $1,382,000 after purchasing an additional 569 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Waste Management by 0.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 78,651 shares of the business services provider’s stock worth $7,105,000 after purchasing an additional 583 shares during the period. Redpoint Investment Management Pty Ltd lifted its position in shares of Waste Management by 1.7% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 35,687 shares of the business services provider’s stock worth $2,903,000 after purchasing an additional 591 shares during the period. Finally, Roanoke Asset Management Corp NY lifted its position in shares of Waste Management by 6.8% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 9,328 shares of the business services provider’s stock worth $759,000 after purchasing an additional 597 shares during the period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Shares of Waste Management stock opened at $90.14 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.48. Waste Management, Inc. has a 12-month low of $76.84 and a 12-month high of $92.85. The company has a market cap of $38.74 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.86 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the business posted $0.81 EPS. Waste Management’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 4.08 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were paid a dividend of $0.465 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a yield of 2.06%. Waste Management’s payout ratio is 57.76%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. BMO Capital Markets upped their price target on shares of Waste Management to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $94.38.

About Waste Management

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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