Kimelman & Baird LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,477 shares of the business services provider’s stock after selling 3,390 shares during the period. Waste Management makes up approximately 4.0% of Kimelman & Baird LLC’s investment portfolio, making the stock its 6th biggest position. Kimelman & Baird LLC owned 0.06% of Waste Management worth $28,690,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of Waste Management by 55.1% during the 2nd quarter. Fisher Asset Management LLC now owns 4,249 shares of the business services provider’s stock worth $490,000 after acquiring an additional 1,509 shares in the last quarter. Investec Asset Management LTD boosted its stake in shares of Waste Management by 36.6% during the 2nd quarter. Investec Asset Management LTD now owns 79,616 shares of the business services provider’s stock worth $9,185,000 after acquiring an additional 21,316 shares in the last quarter. Ibex Wealth Advisors bought a new stake in shares of Waste Management during the 2nd quarter worth about $144,000. Dupont Capital Management Corp boosted its stake in shares of Waste Management by 6.5% during the 2nd quarter. Dupont Capital Management Corp now owns 51,628 shares of the business services provider’s stock worth $5,956,000 after acquiring an additional 3,165 shares in the last quarter. Finally, KBC Group NV boosted its stake in Waste Management by 1.1% during the 2nd quarter. KBC Group NV now owns 252,855 shares of the business services provider’s stock valued at $29,172,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.
In other news, SVP Charles C. Boettcher sold 589 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $115.95, for a total value of $68,294.55. Following the completion of the transaction, the senior vice president now directly owns 3,147 shares of the company’s stock, valued at approximately $364,894.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Tara J. Hmmer sold 4,639 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.36, for a total value of $511,960.04. Following the completion of the transaction, the senior vice president now directly owns 25,405 shares of the company’s stock, valued at $2,803,695.80. The disclosure for this sale can be found here. Insiders sold a total of 9,386 shares of company stock valued at $1,042,698 in the last quarter. Corporate insiders own 0.14% of the company’s stock.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the company earned $1.15 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.512 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.84%. Waste Management’s dividend payout ratio is currently 48.81%.
Several analysts recently weighed in on the company. ValuEngine downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America downgraded Waste Management from a “buy” rating to a “neutral” rating in a research note on Friday, October 18th. Stifel Nicolaus set a $125.00 target price on Waste Management and gave the company a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on Waste Management in a research note on Wednesday, November 27th. They set a “hold” rating and a $120.00 target price for the company. Finally, Macquarie restated an “outperform” rating and set a $130.00 target price on shares of Waste Management in a research note on Wednesday, September 4th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management has an average rating of “Hold” and an average target price of $118.00.
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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