Kayne Anderson Rudnick Investment Management LLC Has $21.59 Million Stake in Waste Management, Inc. (WM)
Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,860 shares of the business services provider’s stock after selling 12,490 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.06% of Waste Management worth $21,592,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of WM. Hudock Capital Group LLC grew its position in shares of Waste Management by 0.6% in the 2nd quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 12 shares during the period. Lincoln National Corp grew its position in shares of Waste Management by 0.5% in the 2nd quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 21 shares during the period. Bridgewater Wealth & Financial Management LLC grew its position in shares of Waste Management by 0.5% in the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 22 shares during the period. First Interstate Bank grew its position in shares of Waste Management by 2.4% in the 2nd quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 38 shares during the period. Finally, Archford Capital Strategies LLC grew its position in shares of Waste Management by 0.3% in the 1st quarter. Archford Capital Strategies LLC now owns 16,304 shares of the business services provider’s stock valued at $1,184,000 after purchasing an additional 45 shares during the period. Institutional investors own 76.48% of the company’s stock.
Several equities analysts recently issued reports on WM shares. Zacks Investment Research lowered 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 issued a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, October 4th. Bank of America Corporation decreased their price objective on 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 boosted their price objective on Waste Management from $80.00 to $84.00 and gave the company 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 given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $81.81.
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Waste Management, Inc. (NYSE:WM) traded down $0.03 during midday trading on Friday, reaching $81.70. The company’s stock had a trading volume of 2,141,200 shares, compared to its average volume of 1,669,777. The company 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. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. Waste Management, Inc. has a 12-month low of $68.42 and a 12-month high of $82.87.
Waste Management (NYSE:WM) last released its earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. sell-side analysts forecast that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.08%. The ex-dividend date 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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