Waste Management, Inc. (WM) Shares Sold by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,276 shares of the business services provider’s stock after selling 1,140 shares during the period. Stratos Wealth Partners LTD.’s holdings in Waste Management were worth $1,117,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth about $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the 2nd quarter worth about $103,000. Bruderman Asset Management LLC acquired a new stake in Waste Management in the 2nd quarter worth about $110,000. FTB Advisors Inc. raised its stake in Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares in the last quarter. Finally, First Interstate Bank raised its stake in Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after purchasing an additional 38 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on WM shares. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and set a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, October 4th. Bank of America Corporation lowered their price objective on shares of 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, 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $81.81.
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Waste Management, Inc. (NYSE:WM) traded down $0.03 during mid-day trading on Friday, reaching $81.70. 2,141,200 shares of the company were exchanged, compared to its average volume of 1,669,777. Waste Management, Inc. has a twelve month low of $68.42 and a twelve month 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. The firm has a market cap of $35,488.49, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.65 and a beta of 0.76.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. analysts predict that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s payout ratio is 54.84%.
About Waste Management
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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