Keybank National Association OH increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 64.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,279 shares of the business services provider’s stock after purchasing an additional 17,698 shares during the quarter. Keybank National Association OH’s holdings in Waste Management were worth $5,207,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in shares of Waste Management during the second quarter worth $25,000. Howe & Rusling Inc. raised its holdings in shares of Waste Management by 139.6% during the third quarter. Howe & Rusling Inc. now owns 218 shares of the business services provider’s stock worth $25,000 after acquiring an additional 127 shares during the period. Financial Gravity Wealth Inc. raised its holdings in shares of Waste Management by 133.1% during the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of Waste Management by 146.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 273,777 shares of the business services provider’s stock worth $34,000 after acquiring an additional 162,829 shares during the period. Finally, Personal Wealth Partners acquired a new stake in shares of Waste Management during the second quarter worth $35,000. 73.11% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Stifel Nicolaus set a $125.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a report on Monday, October 21st. Royal Bank of Canada set a $126.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. ValuEngine lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James set a $127.00 price target on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $116.82.
WM stock traded up $0.68 during midday trading on Friday, hitting $111.03. The company’s stock had a trading volume of 1,205,702 shares, compared to its average volume of 1,771,314. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.86 and a quick ratio of 1.82. Waste Management, Inc. has a twelve month low of $83.49 and a twelve month high of $121.77. The company’s fifty day moving average price is $114.16 and its 200 day moving average price is $113.97. The stock has a market capitalization of $45.95 billion, a P/E ratio of 26.44, a PEG ratio of 3.02 and a beta of 0.60.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.05. Waste Management had a net margin of 11.35% and a return on equity of 28.63%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business earned $1.15 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 4.35 EPS for the current fiscal year.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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