Banco Santander S.A. purchased a new stake in Waste Management, Inc. (NYSE:WM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,695 shares of the business services provider’s stock, valued at approximately $244,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley grew 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 valued at $322,893,000 after purchasing an additional 1,851,169 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Waste Management by 75.4% in the third quarter. American Century Companies Inc. now owns 2,564,600 shares of the business services provider’s stock valued at $231,737,000 after purchasing an additional 1,102,457 shares in the last quarter. Macquarie Group Ltd. grew 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 valued at $753,094,000 after purchasing an additional 669,355 shares in the last quarter. Natixis grew its holdings in shares of Waste Management by 202.2% in the second quarter. Natixis now owns 933,543 shares of the business services provider’s stock valued at $75,934,000 after purchasing an additional 624,633 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Waste Management by 38.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,045,411 shares of the business services provider’s stock valued at $166,376,000 after purchasing an additional 570,572 shares in the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of WM stock opened at $93.75 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $39.97 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $78.39 and a fifty-two week high of $94.08.
The company also recently declared 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. This represents a $1.86 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 29th. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.
In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $2,205,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.
WM has been the subject of a number of research reports. ValuEngine cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Thursday, September 20th. BMO Capital Markets lifted their price objective on shares of Waste Management to $98.00 and gave the company an “overweight” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating and issued a $95.00 price objective on shares of Waste Management in a report on Thursday, October 25th. Finally, UBS Group set a $90.00 price objective on shares of Waste Management and gave the company a “hold” rating in a report on Friday, October 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Waste Management currently has an average rating of “Buy” and an average price target of $96.67.
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About Waste Management
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.
See Also: Exchange-Traded Funds (ETFs)
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