Manning & Napier Advisors LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,620 shares of the business services provider’s stock after purchasing an additional 21,354 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Waste Management were worth $9,518,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in Waste Management by 23.4% during the 1st quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock valued at $30,005,000 after purchasing an additional 78,100 shares during the period. Intersect Capital LLC boosted its position in Waste Management by 33.1% during the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 6,009 shares during the period. Aviva PLC boosted its position in Waste Management by 1.0% during the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after acquiring an additional 2,710 shares during the period. AXA boosted its position in Waste Management by 15.0% during the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after acquiring an additional 58,630 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Waste Management by 0.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,768,294 shares of the business services provider’s stock worth $129,703,000 after acquiring an additional 11,668 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
WM has been the subject of a number of analyst reports. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Credit Suisse Group set a $90.00 price target on Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Oppenheimer Holdings, Inc. boosted their price target on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. KeyCorp boosted their price target on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Finally, Bank of America Corporation cut their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Waste Management has a consensus rating of “Buy” and an average target price of $81.81.
Shares of Waste Management, Inc. (NYSE:WM) traded down $1.05 during trading on Friday, hitting $80.65. The stock had a trading volume of 2,155,363 shares, compared to its average volume of 1,668,313. 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 $35,480.00, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.68 and a beta of 0.76. Waste Management, Inc. has a twelve month low of $68.42 and a twelve month high of $82.87.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. Waste Management’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. equities research analysts expect that Waste Management, Inc. will post 3.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio (DPR) is presently 54.66%.
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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