Waste Management, Inc. (NYSE:WM) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lowered its position in Waste Management, Inc. (NYSE:WM) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 83,943 shares of the business services provider’s stock after selling 2,106 shares during the quarter. IFM Investors Pty Ltd’s holdings in Waste Management were worth $17,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hexagon Capital Partners LLC increased its position in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management during the 2nd quarter valued at about $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 worth $36,000 after purchasing an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Waste Management during the second quarter worth $39,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM traded down $2.14 on Thursday, reaching $209.66. 388,932 shares of the stock traded hands, compared to its average volume of 1,610,379. Waste Management, Inc. has a 12 month low of $156.36 and a 12 month high of $225.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The stock’s 50-day moving average price is $208.70 and its 200-day moving average price is $208.54. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last issued 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 company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. Equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 47.69%.

Analyst Ratings Changes

Several equities research analysts recently commented on WM shares. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Robert W. Baird dropped their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

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.