3,150 Shares in Waste Management, Inc. (WM) Purchased by BKS Advisors LLC
BKS Advisors LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,150 shares of the business services provider’s stock, valued at approximately $247,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in WM. Shine Investment Advisory Services Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at about $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management in the 2nd quarter valued at about $103,000. Bruderman Asset Management LLC bought a new stake in shares of Waste Management in the 2nd quarter valued at about $110,000. FTB Advisors Inc. raised its holdings in shares of Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 65 shares in the last quarter. Finally, First Interstate Bank raised its holdings in shares of Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 76.25% of the company’s stock.
A number of brokerages have recently issued reports on WM. KeyCorp lifted their price objective on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. BMO Capital Markets lifted their price objective on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Oppenheimer Holdings, Inc. lifted their price objective on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus downgraded shares of Waste Management from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, October 4th. Finally, Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $81.81.
Waste Management, Inc. (NYSE:WM) traded up $0.12 during trading hours on Monday, reaching $80.38. 540,600 shares of the company’s stock traded hands, compared to its average volume of 1,669,992. The stock has a market cap of $34,902.28, a P/E ratio of 25.76, a PEG ratio of 2.61 and a beta of 0.76. Waste Management, Inc. has a 12 month low of $68.84 and a 12 month high of $82.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71.
Waste Management (NYSE:WM) last released its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. Waste Management’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. research analysts anticipate that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, November 30th. Waste Management’s dividend payout ratio is presently 54.84%.
About Waste Management
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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