Jennison Associates LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 37.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,004 shares of the business services provider’s stock after selling 17,042 shares during the quarter. Jennison Associates LLC’s holdings in Waste Management were worth $2,270,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Shine Investment Advisory Services Inc. purchased a new stake in shares of Waste Management in the second quarter worth about $101,000. Northwest Investment Counselors LLC purchased a new stake in shares of Waste Management in the second quarter worth about $103,000. Bruderman Asset Management LLC purchased a new stake in shares of Waste Management in the second quarter worth about $110,000. FTB Advisors Inc. lifted its holdings in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after buying an additional 65 shares in the last quarter. Finally, First Interstate Bank lifted its holdings in shares of Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock worth $119,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Shares of Waste Management, Inc. (WM) opened at $80.65 on Friday. The firm has a market cap of $35,019.52, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.62 and a beta of 0.76. Waste Management, Inc. has a fifty-two week low of $68.42 and a fifty-two week high of $82.87. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. equities analysts expect that Waste Management, Inc. will post 3.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio is presently 54.84%.
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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $82.00 target price on shares of Waste Management in a research note on Friday, September 8th. Stifel Nicolaus downgraded shares of Waste Management from a “buy” rating to a “hold” rating and lowered their target price for the company from $85.00 to $80.00 in a research note on Wednesday, October 4th. Bank of America Corporation lowered their target price on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Finally, KeyCorp raised their target price on shares of Waste Management from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Waste Management has an average rating of “Buy” and a consensus target price 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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