Golden State Equity Partners Has $1.22 Million Stake in Waste Management, Inc. $WM

Golden State Equity Partners grew its position in Waste Management, Inc. (NYSE:WM) by 283.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,535 shares of the business services provider’s stock after acquiring an additional 4,091 shares during the period. Golden State Equity Partners’ holdings in Waste Management were worth $1,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. Norges Bank acquired a new position in Waste Management during the second quarter worth approximately $1,064,206,000. Vontobel Holding Ltd. boosted its stake in shares of Waste Management by 444.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after acquiring an additional 1,800,728 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after acquiring an additional 1,717,603 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in Waste Management by 55.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after acquiring an additional 1,034,258 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Waste Management by 982.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock valued at $195,692,000 after purchasing an additional 804,285 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

Waste Management Price Performance

Waste Management stock opened at $219.76 on Friday. The stock’s 50 day moving average is $212.21 and its 200 day moving average is $220.25. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The firm has a market cap of $88.53 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.825 per share. The ex-dividend date was Friday, December 5th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is presently 51.97%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. DZ Bank assumed coverage on shares of Waste Management in a report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. UBS Group cut their price objective on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Morgan Stanley decreased their target price on Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $238.00 to $242.00 in a report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $248.95.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.