Harbour Investment Management LLC Increases Stake in Waste Management, Inc. (NYSE:WM)

Harbour Investment Management LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,245 shares of the business services provider’s stock after acquiring an additional 144 shares during the quarter. Waste Management comprises approximately 2.0% of Harbour Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. Harbour Investment Management LLC’s holdings in Waste Management were worth $4,618,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WM. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management in the second quarter valued at approximately $31,000. Fairway Wealth LLC raised its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC acquired a new position in shares of Waste Management during the 2nd quarter worth about $39,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE:WM traded down $1.86 during trading hours on Friday, reaching $213.99. 1,267,741 shares of the company traded hands, compared to its average volume of 1,302,040. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 1.03. Waste Management, Inc. has a 1-year low of $162.34 and a 1-year high of $225.00. The firm’s 50-day moving average is $209.34 and its 200-day moving average is $208.85. The stock has a market cap of $85.89 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly 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 company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. Equities research analysts expect that Waste Management, Inc. will post 7.28 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

WM has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday. CIBC upped their target price on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday. Argus lifted their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Finally, Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price 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.