Tocqueville Asset Management L.P. trimmed its position in Waste Management, Inc. (NYSE:WM) by 16.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,912 shares of the business services provider’s stock after selling 37,491 shares during the period. Tocqueville Asset Management L.P.’s holdings in Waste Management were worth $16,648,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in Waste Management by 6.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after purchasing an additional 85,636 shares in the last quarter. Yellowstone Partners LLC bought a new stake in Waste Management during the 3rd quarter worth approximately $449,000. Lourd Capital LLC bought a new stake in Waste Management during the 4th quarter worth approximately $256,000. Wesbanco Bank Inc. bought a new stake in Waste Management during the 4th quarter worth approximately $215,000. Finally, Moody Lynn & Lieberson LLC increased its holdings in Waste Management by 20.1% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock worth $13,440,000 after purchasing an additional 28,760 shares in the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Monday, January 8th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a report on Friday, February 16th. UBS Group raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Finally, Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and an average price target of $90.13.
Waste Management, Inc. (NYSE:WM) traded down $0.25 during mid-day trading on Wednesday, hitting $86.41. The stock had a trading volume of 2,236,653 shares, compared to its average volume of 2,950,000. The company has a market capitalization of $37,470.00, a price-to-earnings ratio of 14.95, a PEG ratio of 1.96 and a beta of 0.70. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. Waste Management, Inc. has a 52 week low of $70.08 and a 52 week high of $89.73.
Waste Management (NYSE:WM) last released its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company posted $0.75 earnings per share. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. equities research analysts anticipate that Waste Management, Inc. will post 4.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.465 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, March 8th. This represents a $1.86 annualized dividend and a yield of 2.15%. Waste Management’s dividend payout ratio is presently 32.18%.
Waste Management announced that its board has initiated a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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