Investment House LLC raised its position in Waste Management, Inc. (NYSE:WM) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,593 shares of the business services provider’s stock after purchasing an additional 2,540 shares during the quarter. Waste Management comprises 1.2% of Investment House LLC’s investment portfolio, making the stock its 23rd biggest position. Investment House LLC’s holdings in Waste Management were worth $11,349,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of WM. Franklin Resources Inc. raised its stake in shares of Waste Management by 11.4% in the 1st quarter. Franklin Resources Inc. now owns 14,416 shares of the business services provider’s stock valued at $1,213,000 after acquiring an additional 1,481 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Waste Management by 13.6% in the 1st quarter. Nuveen Asset Management LLC now owns 217,964 shares of the business services provider’s stock valued at $18,335,000 after acquiring an additional 26,027 shares during the period. UBS Group AG raised its stake in shares of Waste Management by 2.5% in the 1st quarter. UBS Group AG now owns 1,104,709 shares of the business services provider’s stock valued at $92,928,000 after acquiring an additional 27,193 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Waste Management during the 1st quarter worth approximately $883,000. Finally, MANA Advisors LLC purchased a new stake in Waste Management during the 1st quarter worth approximately $437,000. Institutional investors own 74.62% of the company’s stock.
In other Waste Management news, Director Patrick W. Gross sold 406 shares of the stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total value of $33,787.32. Following the sale, the director now directly owns 24,149 shares of the company’s stock, valued at approximately $2,009,679.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.02. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts forecast that Waste Management, Inc. will post 4.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, September 6th. Waste Management’s dividend payout ratio is presently 57.76%.
Several equities research analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Waste Management to $98.00 and gave the stock an “overweight” rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Thursday, September 20th. Finally, ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $94.38.
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.
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