Highbridge Capital Management LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 75.1% 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 24,025 shares of the business services provider’s stock after selling 72,486 shares during the quarter. Highbridge Capital Management LLC’s holdings in Waste Management were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Point72 Hong Kong Ltd boosted its position 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 valued at $106,000 after purchasing an additional 1,194 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in Waste Management in the third quarter worth about $112,000. Braun Bostich & Associates Inc. boosted its holdings in Waste Management by 546.0% in the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after acquiring an additional 1,223 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Waste Management by 15.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after acquiring an additional 14,720 shares in the last quarter. Finally, Vigilant Capital Management LLC boosted its holdings in Waste Management by 200.0% in the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after acquiring an additional 1,000 shares in the last quarter. 75.16% of the stock is currently owned by institutional investors.
Shares of NYSE WM opened at $91.21 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84. The stock has a market capitalization of $39.49 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $78.39 and a fifty-two week high of $95.49.
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 consensus estimate of $1.11 by $0.04. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. On average, equities analysts anticipate that Waste Management, Inc. will post 4.14 earnings per share for the current 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 dividend yield of 2.04%. The ex-dividend date is Thursday, November 29th. Waste Management’s dividend payout ratio (DPR) is 57.76%.
In related 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 transaction of $765,381.87. Following the completion of the sale, the chief financial officer now owns 21,373 shares of the company’s stock, valued at $2,017,824.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff M. Harris sold 24,500 shares of Waste Management stock in a transaction dated Thursday, November 8th. The stock was 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. Insiders own 0.30% of the company’s stock.
WM has been the subject of several recent analyst reports. ValuEngine downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Thursday, September 20th. BMO Capital Markets raised their price target on Waste Management to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating and issued a $95.00 price target on shares of Waste Management in a report on Thursday, October 25th. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.14.
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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.
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