American Century Companies Inc. decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 32.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 531,405 shares of the business services provider’s stock after selling 258,625 shares during the period. American Century Companies Inc. owned 0.12% of Waste Management worth $41,593,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in Waste Management by 23.4% during the first quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock valued at $30,005,000 after purchasing an additional 78,100 shares during the last quarter. Intersect Capital LLC boosted its position in Waste Management by 33.1% during the second quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 6,009 shares during the last quarter. Aviva PLC boosted its position in Waste Management by 1.0% during the second quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock valued at $20,328,000 after purchasing an additional 2,710 shares during the last quarter. AXA boosted its position in Waste Management by 15.0% during the second quarter. AXA now owns 450,490 shares of the business services provider’s stock valued at $33,044,000 after purchasing an additional 58,630 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in Waste Management by 28.6% during the first quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 1,121 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
Waste Management, Inc. (NYSE WM) opened at $81.32 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $35,310.46, 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 1-year low of $66.40 and a 1-year high of $82.87.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.84 earnings per share. equities research analysts anticipate that Waste Management, Inc. will post 3.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.09%. Waste Management’s payout ratio is presently 54.84%.
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A number of research firms recently issued reports on WM. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Credit Suisse Group set a $90.00 target price on Waste Management and gave the company a “buy” rating in a report on Monday, October 30th. BMO Capital Markets raised their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Finally, KeyCorp restated a “buy” rating and set a $88.00 target price on shares of Waste Management in a report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target 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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