Pacer Advisors Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,567 shares of the business services provider’s stock after acquiring an additional 3,860 shares during the period. Pacer Advisors Inc.’s holdings in Waste Management were worth $4,780,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC acquired a new stake in shares of Waste Management in the 2nd quarter valued at $25,000. Financial Gravity Wealth Inc. lifted its position in Waste Management by 133.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the last quarter. Personal Wealth Partners acquired a new position in Waste Management during the 2nd quarter worth $35,000. Next Capital Management LLC lifted its position in Waste Management by 119.6% during the 2nd quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock worth $37,000 after acquiring an additional 177 shares during the last quarter. Finally, Coastal Capital Group Inc. acquired a new position in Waste Management during the 2nd quarter worth $39,000. Institutional investors own 73.17% of the company’s stock.
In other Waste Management news, SVP Tara J. Hmmer sold 4,739 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $118.04, for a total transaction of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at $2,770,398.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick W. Gross sold 289 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the sale, the director now directly owns 53,378 shares in the company, valued at $6,331,164.58. The disclosure for this sale can be found here. Insiders have sold 13,636 shares of company stock worth $1,619,433 over the last ninety days. Insiders own 0.14% of the company’s stock.
A number of research analysts have weighed in on WM shares. Stifel Nicolaus boosted their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. ValuEngine downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. initiated coverage on shares of Waste Management in a report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 price objective on the stock. Raymond James set a $127.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada set a $126.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $116.82.
NYSE WM opened at $116.34 on Friday. The stock has a market cap of $49.04 billion, a P/E ratio of 26.70, a PEG ratio of 3.12 and a beta of 0.61. The company’s 50-day simple moving average is $116.05 and its 200 day simple moving average is $112.56. Waste Management, Inc. has a twelve month low of $83.22 and a twelve month high of $121.77. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Research analysts anticipate that Waste Management, Inc. will post 4.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.512 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.05 annualized dividend and a yield of 1.76%. Waste Management’s dividend payout ratio is 48.81%.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
Further Reading: Basic Economics
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