Piedmont Investment Advisors LLC Purchases 874 Shares of Waste Management, Inc. (WM)
Piedmont Investment Advisors LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,287 shares of the business services provider’s stock after acquiring an additional 874 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Waste Management were worth $7,458,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in Waste Management by 7,400.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after buying an additional 4,260,260 shares during the period. Vanguard Group Inc. raised its holdings in Waste Management by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock valued at $2,521,397,000 after buying an additional 1,621,347 shares during the period. BlackRock Inc. raised its holdings in Waste Management by 4.9% in the 2nd quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock valued at $2,320,637,000 after buying an additional 1,475,583 shares during the period. APG Asset Management N.V. raised its holdings in Waste Management by 49.2% in the 3rd quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock valued at $189,189,000 after buying an additional 797,192 shares during the period. Finally, Pictet Asset Management Ltd. raised its holdings in Waste Management by 52.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock valued at $152,073,000 after buying an additional 666,000 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (NYSE WM) traded up $0.70 during trading hours on Thursday, reaching $85.34. 2,069,800 shares of the company’s stock were exchanged, compared to its average volume of 1,687,735. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. The stock has a market capitalization of $37,060.00, a price-to-earnings ratio of 27.13, a PEG ratio of 2.75 and a beta of 0.75. Waste Management, Inc. has a one year low of $69.00 and a one year high of $85.87.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. equities analysts forecast that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.70 dividend on an annualized basis and a yield of 1.99%. Waste Management’s dividend payout ratio (DPR) is presently 54.66%.
WM has been the topic of several research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a report on Friday, September 8th. Stifel Nicolaus lowered shares of Waste Management from a “buy” rating to a “hold” rating and reduced their price objective for the company from $85.00 to $80.00 in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Bank of America reduced their price objective on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Finally, KeyCorp boosted their price objective on shares of Waste Management from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 13th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $83.31.
In other Waste Management news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.
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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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