Daiwa Securities Group Inc. raised its stake in Waste Management, Inc. (NYSE:WM) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,018 shares of the business services provider’s stock after purchasing an additional 1,791 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Waste Management were worth $2,080,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in WM. Kiley Juergens Wealth Management LLC bought a new stake in Waste Management in the second quarter valued at approximately $100,000. Point72 Hong Kong Ltd increased its stake in shares of 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 valued at $106,000 after buying an additional 1,194 shares during the period. Braun Bostich & Associates Inc. increased its stake in shares of 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 valued at $118,000 after buying an additional 1,223 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of 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 valued at $128,000 after buying an additional 14,720 shares during the period. Finally, Vigilant Capital Management LLC increased its stake in shares of Waste Management by 200.0% during the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.
Several equities analysts have recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $93.00 target price on shares of Waste Management in a research note on Thursday, July 26th. UBS Group set a $90.00 target price on Waste Management and gave the company a “hold” rating in a research note on Friday, October 26th. ValuEngine raised Waste Management from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. Oppenheimer reissued a “buy” rating and set a $95.00 target price on shares of Waste Management in a research note on Thursday, October 25th. Finally, Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $95.50.
In related news, VP Jeff M. Harris sold 24,500 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.
WM opened at $90.46 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. Waste Management, Inc. has a 52-week low of $78.33 and a 52-week high of $92.85. The company has a market cap of $37.45 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.64.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. As a group, equities analysts anticipate that Waste Management, Inc. will post 4.13 EPS for the current year.
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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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