Ameritas Advisory Services LLC increased its position in Waste Management, Inc. (NYSE:WM – Free Report) by 48.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,977 shares of the business services provider’s stock after acquiring an additional 3,600 shares during the period. Ameritas Advisory Services LLC’s holdings in Waste Management were worth $2,215,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after purchasing an additional 168,818 shares during the last quarter. Parnassus Investments LLC boosted its holdings in Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after buying an additional 12,664 shares during the period. Nordea Investment Management AB increased its stake in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after acquiring an additional 280,455 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after acquiring an additional 243,900 shares during the period. 80.40% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on WM shares. Stifel Nicolaus upped their target price on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. CIBC lifted their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Argus increased their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley lifted their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.72.
Insider Activity
In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.
Waste Management Stock Up 0.4 %
NYSE:WM opened at $211.79 on Tuesday. Waste Management, Inc. has a twelve month low of $181.56 and a twelve month high of $230.39. The firm has a market capitalization of $85.01 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average price is $213.80 and its two-hundred day moving average price is $211.26.
Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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