Waste Management, Inc. (WM) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its position in Waste Management, Inc. (NYSE:WM) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,055,333 shares of the business services provider’s stock after selling 30,592 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of Waste Management worth $239,142,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of WM. Epoch Investment Partners Inc. boosted its holdings in shares of Waste Management by 5.7% in the first quarter. Epoch Investment Partners Inc. now owns 2,410,882 shares of the business services provider’s stock valued at $175,801,000 after acquiring an additional 130,038 shares during the period. KCG Holdings Inc. raised its stake in shares of Waste Management by 77.9% during the first quarter. KCG Holdings Inc. now owns 30,558 shares of the business services provider’s stock worth $2,228,000 after purchasing an additional 13,377 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its stake in shares of Waste Management by 29.5% during the first quarter. Kernodle & Katon Asset Management Group LLC now owns 3,365 shares of the business services provider’s stock worth $245,000 after purchasing an additional 767 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Waste Management by 7.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,347,870 shares of the business services provider’s stock worth $98,287,000 after purchasing an additional 92,357 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Waste Management during the first quarter worth approximately $967,000. 76.48% of the stock is owned by institutional investors and hedge funds.
Waste Management, Inc. (WM) opened at $80.65 on Friday. The stock has a market capitalization of $35,019.52, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.62 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 52-week low of $68.42 and a 52-week high of $82.87.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The firm had revenue of $3.72 billion during 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%. Waste Management’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. equities analysts expect that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s payout ratio is 54.84%.
WM has been the subject of several analyst reports. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Credit Suisse Group set a $90.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Monday, October 30th. Oppenheimer Holdings, Inc. upped their price target on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. KeyCorp upped their price target on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, Bank of America Corporation cut their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and a consensus price target of $81.81.
Waste Management 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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