Berkshire Asset Management LLC PA lifted its holdings in Waste Management, Inc. (NYSE:WM) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,716 shares of the business services provider’s stock after buying an additional 18,440 shares during the quarter. Waste Management accounts for 2.7% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 5th biggest holding. Berkshire Asset Management LLC PA owned 0.08% of Waste Management worth $32,323,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of WM. Kiley Juergens Wealth Management LLC acquired a new position in Waste Management during the second quarter worth $100,000. Gables Capital Management Inc. acquired a new position in Waste Management during the first quarter worth $102,000. Point72 Hong Kong Ltd raised its holdings in Waste Management by 1,095.4% during the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,194 shares during the last quarter. Braun Bostich & Associates Inc. raised its holdings in Waste Management by 546.0% during the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in Waste Management by 15.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after purchasing an additional 14,720 shares during the last quarter. Hedge funds and other institutional investors own 74.62% of the company’s stock.
In other news, Director Patrick W. Gross sold 406 shares of the business’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $83.22, for a total value of $33,787.32. Following the completion of the transaction, the director now directly owns 24,149 shares of the company’s stock, valued at $2,009,679.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.
Several equities analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Waste Management to $98.00 and gave the stock an “overweight” rating in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Thursday, September 20th. Finally, ValuEngine raised Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Waste Management has a consensus rating of “Buy” and a consensus price target of $94.38.
Shares of NYSE WM traded up $0.51 during trading on Friday, reaching $88.55. The company had a trading volume of 145,270 shares, compared to its average volume of 2,090,656. Waste Management, Inc. has a twelve month low of $76.54 and a twelve month high of $92.85. The stock has a market cap of $38.74 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.48.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. Waste Management had a return on equity of 27.38% and a net margin of 14.94%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Waste Management, Inc. will post 4.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were issued a $0.465 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.10%. Waste Management’s dividend payout ratio (DPR) is 57.76%.
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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