BNP Paribas Arbitrage SA reduced its position in shares of Waste Management Inc. (NYSE:WM) by 40.4% during the third quarter, Holdings Channel reports. The firm owned 77,152 shares of the company’s stock after selling 52,328 shares during the period. BNP Paribas Arbitrage SA’s holdings in Waste Management were worth $4,919,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WM. Vanguard Group Inc. increased its position in Waste Management by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,578,946 shares of the company’s stock worth $1,960,198,000 after buying an additional 872,058 shares during the period. Capital International Investors increased its position in shares of Waste Management by 8.2% in the second quarter. Capital International Investors now owns 13,209,100 shares of the company’s stock valued at $875,367,000 after buying an additional 1,003,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Waste Management by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 12,289,093 shares of the company’s stock valued at $814,398,000 after buying an additional 91,091 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Waste Management by 11.0% in the second quarter. BlackRock Fund Advisors now owns 10,269,777 shares of the company’s stock valued at $680,578,000 after buying an additional 1,021,512 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Waste Management by 8.7% in the second quarter. BlackRock Group LTD now owns 4,466,213 shares of the company’s stock valued at $295,976,000 after buying an additional 358,554 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.
Waste Management Inc. (NYSE:WM) traded up 0.70% during trading on Friday, hitting $70.03. The company’s stock had a trading volume of 750,453 shares. The firm has a 50 day moving average of $64.98 and a 200 day moving average of $64.35. The firm has a market cap of $30.95 billion, a P/E ratio of 28.10 and a beta of 0.72. Waste Management Inc. has a 12 month low of $50.36 and a 12 month high of $70.50.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Waste Management had a return on equity of 24.07% and a net margin of 8.36%. Waste Management’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. Equities research analysts predict that Waste Management Inc. will post $2.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.34%. Waste Management’s dividend payout ratio is 65.34%.
Several analysts have recently weighed in on the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Barclays PLC cut Waste Management from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $66.00 to $70.00 in a report on Tuesday, August 9th. Imperial Capital boosted their price target on Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a report on Friday, July 29th. Goldman Sachs Group Inc. assumed coverage on Waste Management in a report on Tuesday, November 1st. They set a “sell” rating and a $63.00 price target on the stock. Finally, Argus restated a “buy” rating and set a $72.00 price target on shares of Waste Management in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus 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.