Canton Hathaway LLC Purchases 218 Shares of Waste Management, Inc. (NYSE:WM)

Canton Hathaway LLC grew its position in Waste Management, Inc. (NYSE:WM) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,318 shares of the business services provider’s stock after acquiring an additional 218 shares during the period. Canton Hathaway LLC’s holdings in Waste Management were worth $1,392,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in WM. Vanguard Group Inc. raised its position in Waste Management by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 34,945,156 shares of the business services provider’s stock worth $4,896,165,000 after purchasing an additional 155,142 shares during the last quarter. Geode Capital Management LLC raised its position in Waste Management by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,336,955 shares of the business services provider’s stock worth $885,143,000 after purchasing an additional 150,445 shares during the last quarter. Parnassus Investments CA raised its position in Waste Management by 2.9% during the 2nd quarter. Parnassus Investments CA now owns 6,290,422 shares of the business services provider’s stock worth $881,351,000 after purchasing an additional 174,816 shares during the last quarter. Morgan Stanley raised its position in Waste Management by 6.9% during the 2nd quarter. Morgan Stanley now owns 3,708,763 shares of the business services provider’s stock worth $519,634,000 after purchasing an additional 239,990 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Waste Management by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 2,811,345 shares of the business services provider’s stock worth $393,897,000 after purchasing an additional 119,008 shares during the last quarter. Institutional investors own 73.84% of the company’s stock.

Shares of WM traded up $0.88 during trading hours on Thursday, hitting $165.72. The stock had a trading volume of 1,194,213 shares, compared to its average volume of 1,594,387. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.78 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $157.63 and a 200-day simple moving average of $149.68. The firm has a market capitalization of $69.32 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 2.65 and a beta of 0.83. Waste Management, Inc. has a 1-year low of $109.11 and a 1-year high of $166.35.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, October 26th. The business services provider reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.10). The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.55 billion. Waste Management had a net margin of 10.09% and a return on equity of 27.19%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities analysts predict that Waste Management, Inc. will post 4.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 17th. Stockholders of record on Friday, December 3rd will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $2.30 annualized dividend and a dividend yield of 1.39%. Waste Management’s dividend payout ratio is presently 55.69%.

In other Waste Management news, SVP Tara J. Hemmer sold 12,186 shares of Waste Management stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $149.07, for a total transaction of $1,816,567.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Devina A. Rankin sold 33,115 shares of Waste Management stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $155.18, for a total transaction of $5,138,785.70. Following the transaction, the chief financial officer now directly owns 53,434 shares in the company, valued at approximately $8,291,888.12. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

WM has been the subject of several analyst reports. BMO Capital Markets raised their target price on Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Finally, Raymond James lifted their price objective on Waste Management from $157.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Waste Management has a consensus rating of “Buy” and an average target price of $148.00.

About Waste Management

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

Read More: Calculating net profit and net profit margin ratio

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.