PNC Financial Services Group Inc. lowered its stake in Waste Management Inc. (NYSE:WM) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 757,479 shares of the company’s stock after selling 18,541 shares during the period. PNC Financial Services Group Inc. owned about 0.17% of Waste Management worth $48,297,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of WM. Hudock Capital Group LLC boosted its stake in shares of Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock valued at $113,000 after buying an additional 11 shares during the last quarter. Financial Architects Inc boosted its stake in shares of Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock valued at $132,000 after buying an additional 16 shares during the last quarter. Davis R M Inc. boosted its stake in shares of Waste Management by 0.3% in the second quarter. Davis R M Inc. now owns 6,118 shares of the company’s stock valued at $405,000 after buying an additional 18 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Waste Management by 0.3% in the third quarter. Brighton Jones LLC now owns 6,257 shares of the company’s stock valued at $399,000 after buying an additional 20 shares during the last quarter. Finally, Brick & Kyle Associates boosted its stake in shares of Waste Management by 1.3% in the third quarter. Brick & Kyle Associates now owns 2,837 shares of the company’s stock valued at $181,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 72.96% of the company’s stock.
Shares of Waste Management Inc. (NYSE:WM) traded up 0.21% during mid-day trading on Monday, reaching $70.18. 876,661 shares of the company’s stock traded hands. The company’s 50 day moving average is $64.98 and its 200-day moving average is $64.35. The firm has a market cap of $31.02 billion, a price-to-earnings ratio of 28.16 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.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Waste Management Inc. will post $2.92 earnings per share for the current fiscal year.
The firm also recently disclosed 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 of this dividend is Wednesday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 2.34%. Waste Management’s payout ratio is presently 65.34%.
Several brokerages recently commented on WM. Vetr cut Waste Management from a “buy” rating to a “hold” rating and set a $68.25 target price on the stock. in a report on Wednesday, November 9th. Barclays PLC raised Waste Management from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $63.37 to $70.00 in a report on Monday, November 7th. Goldman Sachs Group Inc. began coverage on Waste Management in a report on Tuesday, November 1st. They set a “sell” rating and a $63.00 target price on the stock. Bank of America Corp. raised Waste Management from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 31st. Finally, Wedbush cut Waste Management from an “outperform” rating to a “neutral” rating and dropped 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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.