Toronto Dominion Bank Grows Holdings in Waste Management, Inc. (WM)
Toronto Dominion Bank grew its position in shares of Waste Management, Inc. (NYSE:WM) by 12.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,347 shares of the business services provider’s stock after purchasing an additional 17,024 shares during the period. Toronto Dominion Bank’s holdings in Waste Management were worth $12,393,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its stake in shares of Waste Management by 23.4% in 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 acquiring an additional 78,100 shares in the last quarter. Intersect Capital LLC increased its holdings in Waste Management by 33.1% in the second quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock valued at $1,774,000 after buying an additional 6,009 shares during the last quarter. Aviva PLC increased its holdings in Waste Management by 1.0% in the second quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock valued at $20,328,000 after buying an additional 2,710 shares during the last quarter. AXA increased its holdings in Waste Management by 15.0% in the second quarter. AXA now owns 450,490 shares of the business services provider’s stock valued at $33,044,000 after buying an additional 58,630 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Waste Management by 0.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,768,294 shares of the business services provider’s stock valued at $129,703,000 after buying an additional 11,668 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.
WM has been the topic of several recent analyst reports. Bank of America Corporation dropped their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. KeyCorp reissued a “buy” rating and issued a $88.00 target price on shares of Waste Management in a report on Friday, October 27th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Waste Management in a report on Friday, October 13th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, July 19th. Finally, Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.81.
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Shares of Waste Management, Inc. (NYSE WM) traded down $0.30 during mid-day trading on Wednesday, hitting $82.08. The company’s stock had a trading volume of 266,816 shares, compared to its average volume of 1,670,089. Waste Management, Inc. has a 12 month low of $67.75 and a 12 month high of $82.87. The stock has a market capitalization of $35,666.52, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.76. 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 announced its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the 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 business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. research analysts forecast 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. Stockholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 annualized dividend and a dividend yield of 2.07%. Waste Management’s dividend payout ratio (DPR) is 54.84%.
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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