Kimelman & Baird LLC Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

Kimelman & Baird LLC reduced its holdings in Waste Management, Inc. (NYSE:WM) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,670 shares of the business services provider’s stock after selling 714 shares during the period. Waste Management makes up about 3.6% of Kimelman & Baird LLC’s investment portfolio, making the stock its 10th largest position. Kimelman & Baird LLC’s holdings in Waste Management were worth $44,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WM. Activest Wealth Management grew its holdings in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Fairway Wealth LLC increased its holdings in 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 buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management in the 2nd quarter valued at $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management during the 2nd quarter worth about $39,000. Finally, Hexagon Capital Partners LLC increased its stake in Waste Management by 67.2% in the second 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 period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $222.19 on Friday. The company has a market cap of $89.18 billion, a PE ratio of 33.97, a PEG ratio of 2.38 and a beta of 0.75. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1 year low of $171.15 and a 1 year high of $230.39. The company’s 50-day moving average is $216.94 and its two-hundred day moving average is $211.21.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. Waste Management’s dividend payout ratio is presently 45.87%.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 1st. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. BMO Capital Markets increased their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, CIBC lifted their target price on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.33.

Waste Management Company 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.