Keybank National Association OH grew its position in Waste Management, Inc. (NYSE:WM) by 64.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,279 shares of the business services provider’s stock after buying an additional 17,698 shares during the quarter. Keybank National Association OH’s holdings in Waste Management were worth $5,207,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Waste Management by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 35,963,494 shares of the business services provider’s stock worth $4,149,109,000 after purchasing an additional 174,451 shares in the last quarter. BlackRock Inc. increased its position in Waste Management by 3.1% in the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock valued at $3,710,826,000 after acquiring an additional 976,898 shares during the period. Northern Trust Corp increased its position in Waste Management by 0.6% in the 2nd quarter. Northern Trust Corp now owns 5,126,154 shares of the business services provider’s stock valued at $591,404,000 after acquiring an additional 29,757 shares during the period. AQR Capital Management LLC increased its position in Waste Management by 0.7% in the 2nd quarter. AQR Capital Management LLC now owns 4,069,937 shares of the business services provider’s stock valued at $469,549,000 after acquiring an additional 27,195 shares during the period. Finally, Invesco Ltd. increased its position in Waste Management by 12.7% in the 2nd quarter. Invesco Ltd. now owns 3,864,997 shares of the business services provider’s stock valued at $445,904,000 after acquiring an additional 435,062 shares during the period. Institutional investors and hedge funds own 73.11% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Macquarie reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Waste Management in a research note on Wednesday, September 4th. Scotiabank assumed coverage on shares of Waste Management in a research note on Monday, July 22nd. They issued an “outperform” rating on the stock. Stifel Nicolaus set a $125.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Monday, October 21st. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Finally, CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Waste Management has an average rating of “Buy” and an average target price of $116.82.
In related news, VP Michael J. Watson sold 8,019 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.40, for a total transaction of $957,468.60. Following the transaction, the vice president now directly owns 17,254 shares of the company’s stock, valued at $2,060,127.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Charles C. Boettcher sold 589 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $115.95, for a total transaction of $68,294.55. Following the transaction, the senior vice president now directly owns 3,147 shares in the company, valued at $364,894.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,347 shares of company stock worth $1,585,155. 0.14% of the stock is owned by insiders.
Shares of NYSE:WM traded up $0.68 during trading on Friday, reaching $111.03. The stock had a trading volume of 1,205,702 shares, compared to its average volume of 1,771,314. The firm’s fifty day moving average is $114.16 and its 200 day moving average is $113.97. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.82 and a current ratio of 1.86. Waste Management, Inc. has a 52 week low of $83.49 and a 52 week high of $121.77. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 3.02 and a beta of 0.60.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4 billion. Waste Management had a net margin of 11.35% and a return on equity of 28.63%. Waste Management’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. On average, research analysts forecast that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.
Waste Management 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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