Waste Management, Inc. $WM Position Lifted by Norris Perne & French LLP MI

Norris Perne & French LLP MI raised its holdings in Waste Management, Inc. (NYSE:WM) by 100.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,661 shares of the business services provider’s stock after acquiring an additional 77,923 shares during the quarter. Waste Management accounts for about 1.4% of Norris Perne & French LLP MI’s holdings, making the stock its 22nd biggest position. Norris Perne & French LLP MI’s holdings in Waste Management were worth $31,742,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Waste Management in the 2nd quarter valued at about $322,479,000. Diamant Asset Management Inc. lifted its stake in shares of Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after purchasing an additional 767,615 shares during the period. Danske Bank A S purchased a new stake in Waste Management during the second quarter worth about $146,053,000. BlackRock Inc. boosted its holdings in Waste Management by 1.8% during the second quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after buying an additional 535,079 shares in the last quarter. Finally, State Street Corp grew its position in Waste Management by 2.9% during the second quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock worth $4,013,831,000 after buying an additional 507,209 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce reduced their price target on shares of Waste Management from $250.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Morgan Stanley lowered their price target on Waste Management from $230.00 to $220.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 13th. Stifel Nicolaus raised their price objective on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup lifted their price objective on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Oppenheimer decreased their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $256.06.

Waste Management Price Performance

Shares of NYSE WM opened at $239.47 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company’s 50-day moving average price is $216.88 and its 200 day moving average price is $222.33. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The stock has a market cap of $95.72 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 3.06 and a beta of 0.42.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Waste Management, Inc. will post 8.09 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a dividend of $0.9450 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. Waste Management’s dividend payout ratio (DPR) is 53.54%.

Insider Buying and Selling at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. This trade represents a 28.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Waste Management Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.