Perigon Wealth Management LLC Has $118,000 Holdings in Waste Management, Inc. (WM)
Perigon Wealth Management LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 64.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,607 shares of the business services provider’s stock after selling 2,895 shares during the period. Perigon Wealth Management LLC’s holdings in Waste Management were worth $118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia grew its position in Waste Management by 23.4% during the 1st quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock worth $30,005,000 after purchasing an additional 78,100 shares during the period. Intersect Capital LLC grew its position in Waste Management by 33.1% during the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after purchasing an additional 6,009 shares during the period. Aviva PLC grew its position in Waste Management by 1.0% during the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after purchasing an additional 2,710 shares during the period. AXA grew its position in Waste Management by 15.0% during the 2nd quarter. AXA now owns 450,490 shares of the business services provider’s stock worth $33,044,000 after purchasing an additional 58,630 shares during the period. Finally, Global X Management Co. LLC grew its position in Waste Management by 28.6% during the 1st quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock worth $367,000 after purchasing an additional 1,121 shares during the period. 74.88% of the stock is currently owned by institutional investors.
WM has been the topic of a number of analyst reports. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, July 19th. Stifel Nicolaus raised their target price on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Bank of America Corporation dropped their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. BMO Capital Markets restated a “buy” rating and set a $82.00 target price on shares of Waste Management in a research report on Friday, September 8th. Finally, Oppenheimer Holdings, Inc. raised their target price on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $78.74.
Shares of Waste Management, Inc. (WM) opened at 77.73 on Friday. The stock’s 50 day moving average price is $77.52 and its 200-day moving average price is $74.71. Waste Management, Inc. has a 52-week low of $62.33 and a 52-week high of $79.28. The firm has a market capitalization of $34.20 billion, a PE ratio of 26.62 and a beta of 0.74.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.425 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.19%. Waste Management’s dividend payout ratio (DPR) is 58.42%.
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Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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