Fiduciary Family Office LLC Purchases New Stake in Waste Management, Inc. (NYSE:WM)

Fiduciary Family Office LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,597 shares of the business services provider’s stock, valued at approximately $539,000.

Several other institutional investors also recently modified their holdings of WM. International Assets Investment Management LLC raised its stake in Waste Management by 94,414.4% during the third 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 position in shares of Waste Management during the 1st quarter worth about $300,594,000. Capital World Investors grew its stake in shares of Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB bought a new position in shares of Waste Management in the 1st quarter worth $193,955,000. Finally, Wulff Hansen & CO. lifted its stake in shares of Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after buying an additional 863,846 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of NYSE:WM opened at $215.88 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a market cap of $86.65 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $167.78 and a 12 month high of $225.00. The company has a 50-day moving average price of $209.58 and a 200-day moving average price of $209.00.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. 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 1.39%. Waste Management’s dividend payout ratio is presently 45.87%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC raised their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank started coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

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.