Envestnet Asset Management Inc. Sells 3,095 Shares of Waste Management, Inc. (WM)
Envestnet Asset Management Inc. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,172 shares of the business services provider’s stock after selling 3,095 shares during the period. Envestnet Asset Management Inc.’s holdings in Waste Management were worth $7,288,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Intersect Capital LLC grew its position in Waste Management by 33.1% in the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 6,009 shares in the last quarter. Aviva PLC grew its position in Waste Management by 1.0% in the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after purchasing an additional 2,710 shares in the last quarter. AXA grew its position in Waste Management by 15.0% in the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after purchasing an additional 58,630 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Waste Management by 0.7% in 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 purchasing an additional 11,668 shares in the last quarter. Finally, Lincoln National Corp grew its position in Waste Management by 0.5% in the 2nd quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock worth $323,000 after purchasing an additional 21 shares in the last quarter. 75.14% of the stock is owned by institutional investors.
Shares of Waste Management, Inc. (NYSE:WM) traded up $0.41 during mid-day trading on Friday, hitting $83.91. 1,171,100 shares of the company were exchanged, compared to its average volume of 1,678,953. The stock has a market cap of $36,440.00, a PE ratio of 26.76, a P/E/G ratio of 2.71 and a beta of 0.75. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. Waste Management, Inc. has a 12 month low of $69.00 and a 12 month high of $83.95.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.84 EPS. sell-side analysts anticipate that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s payout ratio is currently 54.66%.
A number of equities research analysts have issued reports on the stock. KeyCorp upped 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 upped 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 boosted their target price on shares of Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $80.00 in a research note on Wednesday, October 4th. Finally, Credit Suisse Group set a $90.00 target price on shares of Waste Management and gave the company a “buy” rating in a research note on Monday, October 30th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Waste Management presently has a consensus rating of “Buy” and an average price target of $81.81.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
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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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