Waste Management Inc. (WM) Shares Bought by Gulf International Bank UK Ltd
Gulf International Bank UK Ltd boosted its stake in Waste Management Inc. (NYSE:WM) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,771 shares of the company’s stock after buying an additional 1,500 shares during the period. Gulf International Bank UK Ltd’s holdings in Waste Management were worth $8,465,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Alexandria Capital LLC increased its position in shares of Waste Management by 2.7% in the second quarter. Alexandria Capital LLC now owns 1,583 shares of the company’s stock worth $105,000 after buying an additional 41 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 1,715 shares of the company’s stock worth $113,000 after buying an additional 11 shares in the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Waste Management during the second quarter worth about $132,000. Financial Architects Inc increased its position in shares of Waste Management by 0.8% in the second quarter. Financial Architects Inc now owns 2,003 shares of the company’s stock worth $132,000 after buying an additional 16 shares in the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Waste Management by 320.0% in the second quarter. Chicago Partners Investment Group LLC now owns 2,100 shares of the company’s stock worth $139,000 after buying an additional 1,600 shares in the last quarter. 72.96% of the stock is owned by hedge funds and other institutional investors.
Waste Management Inc. (NYSE:WM) traded up 0.09% during trading on Tuesday, reaching $70.29. The company had a trading volume of 1,286,405 shares. The stock has a market capitalization of $31.07 billion, a P/E ratio of 28.21 and a beta of 0.72. The stock has a 50 day moving average of $65.21 and a 200-day moving average of $64.46. Waste Management Inc. has a 12-month low of $50.36 and a 12-month high of $70.67.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, October 26th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.50 billion. Waste Management had a net margin of 8.36% and a return on equity of 24.07%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, analysts forecast that Waste Management Inc. will post $2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, November 30th. Waste Management’s dividend payout ratio (DPR) is presently 65.34%.
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A number of brokerages recently issued reports on WM. Vetr downgraded Waste Management from a “buy” rating to a “hold” rating and set a $68.25 price target on the stock. in a report on Wednesday, November 9th. Barclays PLC upgraded Waste Management from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $63.37 to $70.00 in a report on Monday, November 7th. Goldman Sachs Group Inc. began coverage on Waste Management in a report on Tuesday, November 1st. They set a “sell” rating and a $63.00 price target on the stock. Bank of America Corp. upgraded Waste Management from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 31st. Finally, Wedbush downgraded Waste Management from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $73.00 to $68.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Waste Management currently has a consensus rating of “Hold” and an average target price of $68.23.
About Waste Management
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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