STA Wealth Management LLC bought a new position in Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,510 shares of the business services provider’s stock, valued at approximately $217,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in shares of Waste Management by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock valued at $114,756,000 after buying an additional 85,636 shares during the period. Yellowstone Partners LLC acquired a new position in shares of Waste Management in the 3rd quarter valued at about $449,000. Lourd Capital LLC acquired a new position in shares of Waste Management in the 4th quarter valued at about $256,000. Wesbanco Bank Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at about $215,000. Finally, First National Trust Co boosted its holdings in shares of Waste Management by 19.8% in the 4th quarter. First National Trust Co now owns 18,600 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 3,073 shares during the period. 76.76% of the stock is owned by institutional investors.
WM has been the subject of several research reports. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a report on Monday, December 11th. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a research note on Friday, February 16th. Finally, Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Ten analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $90.13.
Waste Management, Inc. (NYSE WM) opened at $86.66 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The stock has a market cap of $37,586.52, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70. Waste Management, Inc. has a one year low of $70.08 and a one year high of $89.73.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. equities research analysts predict that Waste Management, Inc. will post 4.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. Waste Management’s payout ratio is presently 42.18%.
Waste Management announced that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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Waste Management Company 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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