Joel Isaacson & Co. LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 3rd quarter, Holdings Channel reports. The firm purchased 2,450 shares of the business services provider’s stock, valued at approximately $221,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Windward Capital Management Co. CA raised its position in shares of Waste Management by 2.3% during 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 buying an additional 563 shares in the last quarter. Exeter Financial LLC raised its position in shares of Waste Management by 3.5% during the 2nd quarter. Exeter Financial LLC now owns 16,994 shares of the business services provider’s stock worth $1,382,000 after buying an additional 569 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Waste Management by 0.7% during 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 buying an additional 583 shares in the last quarter. Redpoint Investment Management Pty Ltd raised its position in shares of Waste Management by 1.7% during 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 buying an additional 591 shares in the last quarter. Finally, Roanoke Asset Management Corp NY raised its holdings 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 in the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WM traded up $0.33 during midday trading on Friday, reaching $90.44. The company’s stock had a trading volume of 1,362,200 shares, compared to its average volume of 2,079,046. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.75 and a quick ratio of 0.72. Waste Management, Inc. has a one year low of $77.14 and a one year high of $92.85. The company has a market capitalization of $38.64 billion, a P/E ratio of 28.08, a PEG ratio of 1.85 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were issued a $0.465 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.06%. Waste Management’s payout ratio is currently 57.76%.
A number of analysts recently commented on WM shares. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Thursday, September 20th. BMO Capital Markets boosted their target price on shares of Waste Management to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and a consensus price target of $94.00.
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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