National Asset Management Inc. Cuts Holdings in Waste Management, Inc. (WM)
National Asset Management Inc. lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,136 shares of the business services provider’s stock after selling 1,448 shares during the period. National Asset Management Inc.’s holdings in Waste Management were worth $645,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in WM. Kiley Juergens Wealth Management LLC purchased a new stake in Waste Management in the second quarter valued at approximately $100,000. Point72 Hong Kong Ltd grew its holdings in Waste Management by 1,095.4% in the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 1,194 shares during the period. Braun Bostich & Associates Inc. grew its holdings in Waste Management by 546.0% in the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 1,223 shares during the period. Vigilant Capital Management LLC grew its holdings in Waste Management by 200.0% in the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 1,000 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in Waste Management by 113.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 808 shares during the period. Institutional investors own 75.00% of the company’s stock.
WM has been the subject of a number of recent analyst reports. BMO Capital Markets restated a “buy” rating and issued a $93.00 target price on shares of Waste Management in a report on Thursday, July 26th. ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Thursday, September 20th. Oppenheimer reiterated a “buy” rating and set a $95.00 price objective on shares of Waste Management in a research note on Thursday, October 25th. Finally, UBS Group set a $90.00 price objective on shares of Waste Management and gave the stock a “hold” rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $96.83.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.04. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. On average, research analysts predict that Waste Management, Inc. will post 4.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.86 annualized dividend and a yield of 2.01%. Waste Management’s dividend payout ratio is currently 57.76%.
In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $2,205,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.
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Waste Management Company Profile
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.
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