Roanoke Asset Management Corp NY Cuts Position in Waste Management, Inc. (NYSE:WM)

Roanoke Asset Management Corp NY reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,710 shares of the business services provider’s stock after selling 50 shares during the quarter. Roanoke Asset Management Corp NY’s holdings in Waste Management were worth $1,808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP bought a new stake in Waste Management in the first quarter worth about $300,594,000. Capital World Investors boosted its stake in Waste Management by 44.6% in 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 during the last quarter. Swedbank AB bought a new position in shares of Waste Management during the 1st quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. raised its holdings in shares of Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.9 %

NYSE WM opened at $213.99 on Friday. The company has a quick ratio of 1.03, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock’s 50-day simple moving average is $209.34 and its two-hundred day simple moving average is $208.83. Waste Management, Inc. has a twelve month low of $162.34 and a twelve month high of $225.00. The company has a market capitalization of $85.89 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Research analysts forecast that Waste Management, Inc. will post 7.28 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WM shares. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer upped their price objective on shares of Waste Management from $224.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets raised their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $226.05.

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.