Watch Point Trust Co grew its holdings in Waste Management, Inc. (NYSE:WM) by 15.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,676 shares of the business services provider’s stock after buying an additional 5,190 shares during the period. Waste Management accounts for about 2.4% of Watch Point Trust Co’s holdings, making the stock its 10th biggest holding. Watch Point Trust Co’s holdings in Waste Management were worth $4,447,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Reilly Herbert Faulkner III purchased a new stake in shares of Waste Management in the third quarter valued at about $5,489,000. Alps Advisors Inc. purchased a new stake in shares of Waste Management in the third quarter valued at about $369,000. First Trust Advisors LP grew its holdings in shares of Waste Management by 2.7% in the third quarter. First Trust Advisors LP now owns 225,806 shares of the business services provider’s stock valued at $25,968,000 after purchasing an additional 5,907 shares during the period. Haverford Trust Co. grew its holdings in shares of Waste Management by 2.7% in the third quarter. Haverford Trust Co. now owns 17,114 shares of the business services provider’s stock valued at $1,968,000 after purchasing an additional 450 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Waste Management by 18.0% in the third quarter. Daiwa Securities Group Inc. now owns 20,437 shares of the business services provider’s stock valued at $2,351,000 after purchasing an additional 3,119 shares during the period. Institutional investors and hedge funds own 73.11% of the company’s stock.
Several brokerages have weighed in on WM. JPMorgan Chase & Co. began coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price for the company. Macquarie reaffirmed an “outperform” rating and set a $130.00 target price on shares of Waste Management in a research note on Wednesday, September 4th. Scotiabank began coverage on shares of Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating for the company. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Finally, Bank of America lowered shares of Waste Management from a “buy” rating to a “neutral” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.82.
In other Waste Management news, SVP Tara J. Hmmer sold 4,739 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $118.04, for a total value of $559,391.56. Following the completion of the transaction, the senior vice president now owns 23,470 shares in the company, valued at approximately $2,770,398.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Charles C. Boettcher sold 589 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $115.95, for a total value of $68,294.55. Following the completion of the transaction, the senior vice president now owns 3,147 shares of the company’s stock, valued at approximately $364,894.65. The disclosure for this sale can be found here. Insiders sold a total of 13,347 shares of company stock valued at $1,585,155 in the last 90 days. 0.14% of the stock is owned by company insiders.
Shares of WM traded up $0.68 during mid-day trading on Friday, hitting $111.03. 1,205,702 shares of the company’s stock were exchanged, compared to its average volume of 1,771,314. The company 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, Inc. has a fifty-two week low of $83.49 and a fifty-two week high of $121.77. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.82 and a current ratio of 1.86. The stock’s 50-day moving average is $114.16 and its 200-day moving average is $113.97.
Waste Management (NYSE:WM) last issued its quarterly 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. Waste Management had a net margin of 11.35% and a return on equity of 28.63%. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Waste Management, Inc. will post 4.35 EPS for the current year.
About Waste Management
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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