Waste Management, Inc. (NYSE:WM) Shares Sold by Hayek Kallen Investment Management

Hayek Kallen Investment Management trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,542 shares of the business services provider’s stock after selling 468 shares during the period. Waste Management comprises 3.4% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 5th largest position. Hayek Kallen Investment Management’s holdings in Waste Management were worth $9,662,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WM. Ameriprise Financial Inc. grew its position in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after acquiring an additional 12,664 shares in the last quarter. Capital World Investors grew its stake in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Legal & General Group Plc increased its position in shares of Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after acquiring an additional 243,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after purchasing an additional 221,380 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM traded up $1.88 on Tuesday, hitting $215.38. The company’s stock had a trading volume of 405,533 shares, compared to its average volume of 1,633,284. The company has a market capitalization of $86.39 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00. The stock’s 50-day moving average is $207.60 and its two-hundred day moving average is $208.42.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. On average, equities research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank began coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. CIBC cut their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird decreased their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $218.89.

Waste Management Profile

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.