Gulf International Bank UK Ltd Decreases Stake in Waste Management, Inc. (NYSE:WM)

Gulf International Bank UK Ltd lessened its stake in Waste Management, Inc. (NYSE:WM) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,192 shares of the business services provider’s stock after selling 1,398 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Waste Management were worth $6,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WM. Norden Group LLC acquired a new stake in Waste Management in the 1st quarter valued at about $418,000. Mutual Advisors LLC increased its stake in shares of Waste Management by 5.5% during the 1st quarter. Mutual Advisors LLC now owns 10,733 shares of the business services provider’s stock worth $2,288,000 after purchasing an additional 556 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Waste Management during the 1st quarter worth approximately $347,000. Larson Financial Group LLC lifted its stake in Waste Management by 4.4% in the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after buying an additional 52 shares in the last quarter. Finally, Avidian Wealth Solutions LLC grew its holdings in Waste Management by 3.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 3,547 shares of the business services provider’s stock valued at $756,000 after buying an additional 131 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $214.24 on Tuesday. The company has a market cap of $85.99 billion, a P/E ratio of 32.76, a PEG ratio of 2.26 and a beta of 0.74. Waste Management, Inc. has a one year low of $167.78 and a one year high of $225.00. The business’s 50-day simple moving average is $209.44 and its 200 day simple moving average is $208.94. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The business 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 business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 earnings per share. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on WM. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird lowered their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.05.

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.