Quantbot Technologies LP cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 74.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,043 shares of the business services provider’s stock after selling 60,890 shares during the period. Quantbot Technologies LP’s holdings in Waste Management were worth $1,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Waste Management by 0.5% in the third quarter. BlackRock Inc. now owns 30,633,601 shares of the business services provider’s stock worth $2,768,051,000 after buying an additional 149,599 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Waste Management by 7.8% in the second quarter. Macquarie Group Ltd. now owns 9,258,582 shares of the business services provider’s stock worth $753,094,000 after buying an additional 669,355 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Waste Management by 4.8% in the third quarter. Wells Fargo & Company MN now owns 7,026,931 shares of the business services provider’s stock worth $634,953,000 after buying an additional 322,479 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Waste Management by 0.3% in the second quarter. Janus Henderson Group PLC now owns 4,158,613 shares of the business services provider’s stock worth $338,262,000 after buying an additional 11,474 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Waste Management by 87.4% in the second quarter. Morgan Stanley now owns 3,969,666 shares of the business services provider’s stock worth $322,893,000 after buying an additional 1,851,169 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.
WM has been the topic of several recent analyst reports. Oppenheimer reiterated a “buy” rating and issued a $95.00 price target on shares of Waste Management in a report on Thursday, October 25th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Friday, October 19th. ValuEngine upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. Raymond James reiterated a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Finally, UBS Group set a $90.00 price target on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $96.67.
WM opened at $93.75 on Friday. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.82 and a beta of 0.64. Waste Management, Inc. has a 52 week low of $78.39 and a 52 week high of $94.08. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. On average, equities research analysts forecast that Waste Management, Inc. will post 4.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.86 annualized dividend and a yield of 1.98%. Waste Management’s payout ratio is currently 57.76%.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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