Retirement Systems of Alabama trimmed its position in Waste Management, Inc. (NYSE:WM) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,206 shares of the business services provider’s stock after selling 17,465 shares during the quarter. Retirement Systems of Alabama owned approximately 0.10% of Waste Management worth $32,498,000 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. Shine Investment Advisory Services Inc. acquired a new position in shares of Waste Management in the second quarter worth about $101,000. Northwest Investment Counselors LLC acquired a new position in shares of Waste Management in the second quarter worth about $103,000. Bruderman Asset Management LLC acquired a new position in shares of Waste Management in the second quarter worth about $110,000. Guardian Life Insurance Co. of America boosted its holdings in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Finally, FTB Advisors Inc. boosted its holdings in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after buying an additional 65 shares during the period. Institutional investors own 76.48% of the company’s stock.
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Waste Management, Inc. (NYSE WM) traded down $0.08 during mid-day trading on Monday, hitting $81.32. 1,815,500 shares of the company traded hands, compared to its average volume of 1,670,080. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. The firm has a market capitalization of $35,510.00, a PE ratio of 26.06, a P/E/G ratio of 2.64 and a beta of 0.76. Waste Management, Inc. has a twelve month low of $66.40 and a twelve month high of $82.87.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. analysts predict that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio (DPR) is presently 54.66%.
Several research analysts have commented on the stock. Credit Suisse Group set a $90.00 target price on shares of Waste Management and gave the stock a “buy” rating in a report on Monday, October 30th. Oppenheimer Holdings, Inc. raised their price target on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. BMO Capital Markets raised their price target on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Waste Management from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Finally, KeyCorp restated a “buy” rating and set a $88.00 price target on shares of Waste Management in a report on Friday, October 27th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Waste Management has an average rating of “Buy” and an average price target of $81.81.
Waste Management Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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