Rothschild Asset Management Inc. Sells 40,194 Shares of Waste Management, Inc. (WM)
Rothschild Asset Management Inc. lowered its stake in Waste Management, Inc. (NYSE:WM) by 4.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 855,208 shares of the business services provider’s stock after selling 40,194 shares during the quarter. Waste Management accounts for 0.7% of Rothschild Asset Management Inc.’s portfolio, making the stock its 23rd biggest position. Rothschild Asset Management Inc. owned 0.20% of Waste Management worth $66,937,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in WM. Oppenheimer Asset Management Inc. bought a new stake in Waste Management in the first quarter valued at approximately $967,000. Two Sigma Securities LLC lifted its position in Waste Management by 130.5% in the first quarter. Two Sigma Securities LLC now owns 7,574 shares of the business services provider’s stock valued at $552,000 after purchasing an additional 4,288 shares during the last quarter. State Street Corp lifted its position in Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock valued at $1,552,295,000 after purchasing an additional 134,152 shares during the last quarter. Level Four Advisory Services LLC lifted its position in Waste Management by 10.1% in the first quarter. Level Four Advisory Services LLC now owns 6,061 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 556 shares during the last quarter. Finally, Investment Centers of America Inc. lifted its position in Waste Management by 3.6% in the first quarter. Investment Centers of America Inc. now owns 68,242 shares of the business services provider’s stock valued at $4,976,000 after purchasing an additional 2,379 shares during the last quarter. Hedge funds and other institutional investors own 76.25% of the company’s stock.
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Shares of Waste Management, Inc. (WM) traded down $1.05 during trading on Monday, hitting $80.65. The company had a trading volume of 2,157,700 shares, compared to its average volume of 1,671,965. The company has a market capitalization of $35,210.00, a P/E ratio of 25.85, a PEG ratio of 2.62 and a beta of 0.76. Waste Management, Inc. has a one year low of $68.52 and a one year high of $82.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 25.61% and a net margin of 9.66%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. equities analysts predict that Waste Management, Inc. will post 3.2 EPS for the current 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 annualized dividend and a yield of 2.11%. Waste Management’s payout ratio is 54.66%.
Several analysts have weighed in on WM shares. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price objective on shares of Waste Management in a research report on Friday, October 13th. KeyCorp reiterated a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Bank of America Corporation lowered their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, Credit Suisse Group set a $90.00 price objective on Waste Management and gave the company a “buy” rating in a research report 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 has an average rating of “Buy” and a consensus price target of $81.81.
Waste Management 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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