Pitcairn Co. Sells 1,258 Shares of Waste Management, Inc. (WM)
Pitcairn Co. trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 17.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,113 shares of the business services provider’s stock after selling 1,258 shares during the quarter. Pitcairn Co.’s holdings in Waste Management were worth $479,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Hudock Capital Group LLC increased its stake in shares of Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock worth $151,000 after buying an additional 12 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Lincoln National Corp increased its stake in shares of Waste Management by 0.5% in the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock worth $323,000 after buying an additional 21 shares during the period. Bridgewater Wealth & Financial Management LLC increased its stake in shares of Waste Management by 0.5% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock worth $296,000 after buying an additional 22 shares during the period. Finally, First Interstate Bank increased its stake in shares of Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 76.42% of the company’s stock.
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Shares of Waste Management, Inc. (NYSE WM) traded down $0.08 during trading on Friday, reaching $81.32. 1,815,500 shares of the company were exchanged, compared to its average volume of 1,913,806. The company has a market cap of $35,310.45, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.76. Waste Management, Inc. has a 52 week low of $66.40 and a 52 week high of $82.87. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last announced 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 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 quarter in the previous year, the business posted $0.84 EPS. research analysts anticipate that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The company 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 $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, November 30th. Waste Management’s payout ratio is 54.84%.
WM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Waste Management in a research report on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Bank of America Corporation 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 research report on Thursday, October 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Waste Management has an average rating of “Buy” and a consensus target price of $81.81.
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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