MBA Advisors LLC Increases Stake in Waste Management, Inc. (NYSE:WM)

MBA Advisors LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 13.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,521 shares of the business services provider’s stock after acquiring an additional 179 shares during the quarter. MBA Advisors LLC’s holdings in Waste Management were worth $316,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pallas Capital Advisors LLC grew its position in shares of Waste Management by 4.4% during the third quarter. Pallas Capital Advisors LLC now owns 1,409 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 60 shares in the last quarter. Strategic Wealth Investment Group LLC grew its holdings in Waste Management by 11.7% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 32,687 shares of the business services provider’s stock valued at $6,797,000 after buying an additional 3,428 shares in the last quarter. Orrstown Financial Services Inc. bought a new stake in Waste Management in the 3rd quarter worth approximately $643,000. Autumn Glory Partners LLC raised its holdings in shares of Waste Management by 140.9% during the 3rd quarter. Autumn Glory Partners LLC now owns 2,361 shares of the business services provider’s stock worth $491,000 after acquiring an additional 1,381 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Waste Management by 8.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 86,096 shares of the business services provider’s stock valued at $17,874,000 after acquiring an additional 7,000 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank assumed coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. BMO Capital Markets lowered their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. William Blair assumed coverage on Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Trading Up 0.7 %

WM opened at $209.70 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock’s fifty day moving average is $208.81 and its two-hundred day moving average is $208.58. The company has a market capitalization of $84.16 billion, a P/E ratio of 33.12, a PEG ratio of 2.29 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $161.60 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio is presently 47.69%.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.