QRG Capital Management Inc. Has $3.93 Million Position in Waste Management, Inc. $WM

QRG Capital Management Inc. lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 37.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,784 shares of the business services provider’s stock after selling 10,723 shares during the quarter. QRG Capital Management Inc.’s holdings in Waste Management were worth $3,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Syntegra Private Wealth Group LLC boosted its holdings in shares of Waste Management by 2.0% during the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after acquiring an additional 44 shares during the period. Harbour Trust & Investment Management Co boosted its stake in Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 45 shares during the period. KWB Wealth grew its holdings in Waste Management by 1.3% in the 2nd quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock valued at $835,000 after buying an additional 47 shares in the last quarter. D.B. Root & Company LLC increased its position in Waste Management by 3.0% during the 2nd quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock worth $367,000 after buying an additional 47 shares during the period. Finally, InTrack Investment Management Inc boosted its position in shares of Waste Management by 0.8% in the second quarter. InTrack Investment Management Inc now owns 5,856 shares of the business services provider’s stock valued at $1,340,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WM shares. CIBC dropped their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. DZ Bank initiated coverage on Waste Management in a research note on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group began coverage on Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.45.

Insiders Place Their Bets

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

Waste Management Trading Up 0.6%

NYSE WM opened at $221.21 on Monday. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The business’s fifty day moving average is $215.74 and its 200 day moving average is $219.16.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the company earned $1.96 EPS. Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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 yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Waste Management Company 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.