First Republic Investment Management Inc. Buys 10,787 Shares of Waste Management, Inc. (WM)

First Republic Investment Management Inc. grew its stake in Waste Management, Inc. (NYSE:WM) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,563 shares of the business services provider’s stock after acquiring an additional 10,787 shares during the quarter. First Republic Investment Management Inc. owned about 0.07% of Waste Management worth $25,442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Windward Capital Management Co. CA grew its holdings in shares of Waste Management by 2.3% during the 3rd quarter. Windward Capital Management Co. CA now owns 25,359 shares of the business services provider’s stock worth $2,291,000 after purchasing an additional 563 shares during the period. Exeter Financial LLC grew its holdings in shares of Waste Management by 3.5% during the 2nd quarter. Exeter Financial LLC now owns 16,994 shares of the business services provider’s stock worth $1,382,000 after purchasing an additional 569 shares during the period. Hall Laurie J Trustee grew its holdings in shares of Waste Management by 3.0% during the 3rd quarter. Hall Laurie J Trustee now owns 20,055 shares of the business services provider’s stock worth $1,812,000 after purchasing an additional 575 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Waste Management by 0.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 78,651 shares of the business services provider’s stock worth $7,105,000 after purchasing an additional 583 shares during the period. Finally, Redpoint Investment Management Pty Ltd grew its holdings in shares of Waste Management by 1.7% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 35,687 shares of the business services provider’s stock worth $2,903,000 after purchasing an additional 591 shares during the period. 75.16% of the stock is owned by institutional investors and hedge funds.

Shares of Waste Management stock opened at $91.21 on Friday. Waste Management, Inc. has a 12 month low of $78.39 and a 12 month high of $95.49. The stock has a market cap of $39.49 billion, a P/E ratio of 28.33, a PEG ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84.

Waste Management (NYSE:WM) last announced its earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.82 billion. As a group, equities analysts expect that Waste Management, Inc. will post 4.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, November 29th. Waste Management’s dividend payout ratio (DPR) is 57.76%.

WM has been the subject of a number of research analyst reports. UBS Group set a $90.00 price target on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Monday, November 26th. Raymond James reiterated a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Oppenheimer reiterated a “buy” rating and set a $95.00 price target on shares of Waste Management in a report on Thursday, October 25th. Finally, Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and increased their price target for the stock from $84.00 to $107.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $98.14.

In other news, CFO Devina A. Rankin sold 8,107 shares of Waste Management stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the transaction, the chief financial officer now owns 21,373 shares in the company, valued at approximately $2,017,824.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jeff M. Harris sold 24,500 shares of Waste Management stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $2,205,000.00. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

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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.

Further Reading: The Discount Rate – What You Need to Know

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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