Ingalls & Snyder LLC reduced its stake in shares of Waste Management Inc. (NYSE:WM) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 26,350 shares of the company’s stock after selling 1,220 shares during the period. Ingalls & Snyder LLC’s holdings in Waste Management were worth $1,680,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its stake in Waste Management by 45.5% in the first quarter. Panagora Asset Management Inc. now owns 248,867 shares of the company’s stock valued at $14,683,000 after buying an additional 77,856 shares during the period. Seven Eight Capital LLC purchased a new stake in Waste Management during the first quarter valued at approximately $171,000. First Republic Investment Management Inc. boosted its stake in Waste Management by 21.6% in the first quarter. First Republic Investment Management Inc. now owns 290,235 shares of the company’s stock valued at $17,124,000 after buying an additional 51,480 shares during the period. Integrated Investment Consultants LLC boosted its stake in Waste Management by 7.6% in the second quarter. Integrated Investment Consultants LLC now owns 3,344 shares of the company’s stock valued at $222,000 after buying an additional 235 shares during the period. Finally, CHURCHILL MANAGEMENT Corp boosted its stake in Waste Management by 13.9% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 227,432 shares of the company’s stock valued at $15,072,000 after buying an additional 27,753 shares during the period. 75.99% of the stock is owned by institutional investors.
Shares of Waste Management Inc. (NYSE:WM) traded up 0.70% during midday trading on Friday, reaching $70.03. The company had a trading volume of 745,953 shares. Waste Management Inc. has a one year low of $50.36 and a one year high of $70.50. The firm has a market capitalization of $30.95 billion, a P/E ratio of 28.10 and a beta of 0.72. The company has a 50 day moving average price of $64.71 and a 200-day moving average price of $64.29.
Waste Management (NYSE:WM) last posted its earnings results on Wednesday, October 26th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.04. Waste Management had a net margin of 8.36% and a return on equity of 24.07%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts anticipate that Waste Management Inc. will post $2.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.36%. Waste Management’s dividend payout ratio is currently 65.34%.
WM has been the subject of several research reports. Wedbush reissued an “outperform” rating and issued a $73.00 target price on shares of Waste Management in a research note on Thursday, July 28th. Imperial Capital lifted their target price on Waste Management from $62.00 to $71.00 and gave the company an “in-line” rating in a research note on Friday, July 29th. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC cut Waste Management from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $66.00 to $70.00 in a research note on Tuesday, August 9th. Finally, KeyCorp raised Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $68.23.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.