Atlantic Trust Group LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 53.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 39,720 shares of the business services provider’s stock after acquiring an additional 13,918 shares during the period. Atlantic Trust Group LLC’s holdings in Waste Management were worth $3,109,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bruderman Asset Management LLC acquired a new position in Waste Management during the second quarter worth $110,000. FTB Advisors Inc. raised its position in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after buying an additional 65 shares during the last quarter. First Interstate Bank raised its position in shares of Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after buying an additional 38 shares during the last quarter. Hudock Capital Group LLC raised its position in shares of Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after buying an additional 12 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Waste Management by 19.0% in the second quarter. IHT Wealth Management LLC now owns 2,314 shares of the business services provider’s stock valued at $835,000 after buying an additional 369 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.
A number of brokerages have recently commented on WM. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Tuesday. BMO Capital Markets increased their target price on shares of Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $95.00 in a research report on Monday, December 11th. KeyCorp reiterated a “buy” rating and issued a $88.00 target price on shares of Waste Management in a research report on Friday, October 27th. Finally, Bank of America dropped their price objective on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $84.51.
Shares of Waste Management, Inc. (NYSE:WM) opened at $86.11 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. Waste Management, Inc. has a 1-year low of $69.00 and a 1-year high of $86.82. The stock has a market cap of $37,360.00, a PE ratio of 27.69, a P/E/G ratio of 2.79 and a beta of 0.75.
Waste Management (NYSE:WM) last announced its quarterly earnings data 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Waste Management’s quarterly revenue was up 4.7% on a year-over-year basis. research analysts expect that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, November 30th. Waste Management’s dividend payout ratio (DPR) is presently 54.66%.
Waste Management announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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