National Asset Management Inc. increased its stake in Waste Management, Inc. (NYSE:WM) by 99.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,516 shares of the business services provider’s stock after buying an additional 4,749 shares during the quarter. National Asset Management Inc.’s holdings in Waste Management were worth $723,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of WM. Shine Investment Advisory Services Inc. purchased a new stake in Waste Management in the second quarter worth $101,000. Northwest Investment Counselors LLC purchased a new stake in Waste Management in the second quarter worth $103,000. Bruderman Asset Management LLC purchased a new stake in Waste Management in the second quarter worth $110,000. FTB Advisors Inc. increased its stake in Waste Management by 4.3% in 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 period. Finally, First Interstate Bank increased its stake in Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after purchasing an additional 38 shares during the period. Institutional investors own 75.14% of the company’s stock.
In other news, SVP Barry H. Caldwell sold 1,650 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. research analysts forecast that Waste Management, Inc. will post 3.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 annualized dividend and a dividend yield of 2.04%. Waste Management’s dividend payout ratio is currently 54.84%.
A number of analysts have weighed in on WM shares. Credit Suisse Group set a $90.00 target price on Waste Management and gave the stock a “buy” rating in a research note on Monday, October 30th. Oppenheimer increased their target price on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research lowered Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. KeyCorp increased their target price on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $85.00 target price on shares of Waste Management in a research note on Friday, October 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Waste Management has an average rating of “Buy” and a consensus target price of $81.81.
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Waste Management Company 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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