Kornitzer Capital Management Inc. KS lessened its holdings in Waste Management, Inc. (NYSE:WM) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 736,823 shares of the business services provider’s stock after selling 27,435 shares during the quarter. Waste Management makes up about 1.0% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 12th largest position. Kornitzer Capital Management Inc. KS owned 0.17% of Waste Management worth $57,671,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new position in shares of Waste Management during the second quarter worth about $101,000. Northwest Investment Counselors LLC purchased a new position in shares of Waste Management during the second quarter worth about $103,000. Bruderman Asset Management LLC purchased a new position in shares of Waste Management during the second quarter worth about $110,000. Guardian Life Insurance Co. of America grew its holdings in shares of Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after purchasing an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. grew its holdings in shares of Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the last quarter. 75.29% of the stock is currently owned by hedge funds and other institutional investors.
Waste Management, Inc. (NYSE WM) traded up $0.05 during mid-day trading on Friday, hitting $81.70. 1,920,360 shares of the stock were exchanged, compared to its average volume of 2,040,684. Waste Management, Inc. has a 52 week low of $63.35 and a 52 week high of $82.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market cap of $35,475.45, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.76.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. equities research analysts expect that Waste Management, Inc. will post 3.2 earnings per share for the current year.
Several equities analysts have issued reports on WM shares. Bank of America Corporation dropped their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and set a $88.00 price objective on shares of Waste Management in a report on Friday, October 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $85.00 price objective on shares of Waste Management in a report on Friday, October 13th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Wednesday, July 19th. Finally, Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $81.81.
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Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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