Investors Buy Shares of Waste Management (WM) on Weakness

Investors bought shares of Waste Management, Inc. (NYSE:WM) on weakness during trading hours on Thursday. $74.28 million flowed into the stock on the tick-up and $20.18 million flowed out of the stock on the tick-down, for a money net flow of $54.10 million into the stock. Of all companies tracked, Waste Management had the 9th highest net in-flow for the day. Waste Management traded down ($0.34) for the day and closed at $91.11

WM has been the subject of several recent research reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Thursday, September 20th. BMO Capital Markets raised their price objective on shares of Waste Management to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 8th. They noted that the move was a valuation call. UBS Group set a $90.00 price target on shares of Waste Management and gave the stock a “hold” rating in a research note on Friday, October 26th. Oppenheimer reiterated a “buy” rating and issued a $95.00 price target on shares of Waste Management in a research note on Thursday, October 25th. Finally, Raymond James reiterated a “buy” rating on shares of Waste Management in a research note on Monday, October 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $96.83.

The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $38.99 billion, a PE ratio of 28.30, a P/E/G ratio of 1.79 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. On average, analysts expect that Waste Management, Inc. will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.465 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.86 dividend on an annualized basis and a yield of 2.04%. Waste Management’s dividend payout ratio is currently 57.76%.

In related news, VP Jeff M. Harris sold 24,500 shares of Waste Management stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Waste Management by 6.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 163,299 shares of the business services provider’s stock worth $13,283,000 after buying an additional 9,319 shares during the last quarter. Berkshire Asset Management LLC PA lifted its position in shares of Waste Management by 5.4% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 357,716 shares of the business services provider’s stock worth $32,323,000 after buying an additional 18,440 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Waste Management by 97.0% during the 2nd quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after buying an additional 103,546 shares during the last quarter. New England Asset Management Inc. lifted its position in shares of Waste Management by 270.5% during the 2nd quarter. New England Asset Management Inc. now owns 7,409 shares of the business services provider’s stock worth $603,000 after buying an additional 5,409 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Waste Management by 73.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,701 shares of the business services provider’s stock worth $3,066,000 after buying an additional 15,932 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

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About Waste Management (NYSE:WM)

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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