Daiwa Securities Group Inc. lowered its position in Waste Management Inc. (NYSE:WM) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,200 shares of the company’s stock after selling 200 shares during the period. Daiwa Securities Group Inc.’s holdings in Waste Management were worth $4,667,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of WM. Numeric Investors LLC raised its stake in Waste Management by 18,312.6% in the second quarter. Numeric Investors LLC now owns 1,436,180 shares of the company’s stock worth $95,176,000 after buying an additional 1,428,380 shares in the last quarter. BlackRock Fund Advisors raised its stake in Waste Management by 11.0% in the second quarter. BlackRock Fund Advisors now owns 10,269,777 shares of the company’s stock worth $680,578,000 after buying an additional 1,021,512 shares in the last quarter. Capital International Investors raised its stake in Waste Management by 8.2% in the second quarter. Capital International Investors now owns 13,209,100 shares of the company’s stock worth $875,367,000 after buying an additional 1,003,000 shares in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Waste Management by 111.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,355,874 shares of the company’s stock worth $89,856,000 after buying an additional 714,291 shares in the last quarter. Institutional investors own 72.96% of the company’s stock.
Waste Management Inc. (NYSE:WM) traded up 0.27% during trading on Monday, hitting $70.22. The company had a trading volume of 739,621 shares. The stock has a market capitalization of $31.04 billion, a price-to-earnings ratio of 28.18 and a beta of 0.72. Waste Management Inc. has a 52-week low of $50.36 and a 52-week high of $70.50. The firm’s 50 day moving average is $64.98 and its 200-day moving average is $64.35.
Waste Management (NYSE:WM) last posted its quarterly 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. The business earned $3.55 billion during the quarter, compared to the consensus estimate of $3.50 billion. Waste Management had a net margin of 8.36% and a return on equity of 24.07%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that Waste Management Inc. will post $2.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.41 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.34%. Waste Management’s dividend payout ratio (DPR) is 65.34%.
WM has been the subject of a number of analyst reports. Wedbush lowered Waste Management from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $73.00 to $68.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, September 27th. Bank of America Corp. upgraded Waste Management from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, October 31st. KeyCorp upgraded Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a report on Tuesday, August 9th. Finally, Macquarie assumed coverage on Waste Management in a report on Thursday, August 25th. They set a “neutral” rating and a $69.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $68.23.
About Waste Management
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.