Victory Capital Management Inc. Grows Position in Waste Management, Inc. (WM)
Victory Capital Management Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 23.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,228 shares of the business services provider’s stock after buying an additional 11,472 shares during the quarter. Victory Capital Management Inc.’s holdings in Waste Management were worth $4,714,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. purchased a new position in shares of Waste Management during the third quarter worth about $6,344,000. Somerville Kurt F purchased a new position in shares of Waste Management during the third quarter worth about $245,000. Pictet Asset Management Ltd. grew its holdings in shares of Waste Management by 52.2% during the third quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock worth $152,073,000 after buying an additional 666,000 shares during the last quarter. Fort Pitt Capital Group LLC purchased a new position in shares of Waste Management during the third quarter worth about $224,000. Finally, Westchester Capital Management Inc. grew its holdings in shares of Waste Management by 0.7% during the third quarter. Westchester Capital Management Inc. now owns 105,709 shares of the business services provider’s stock worth $8,274,000 after buying an additional 728 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (NYSE:WM) opened at $81.73 on Thursday. The company has a market capitalization of $35,770.73, a P/E ratio of 26.40, a PEG ratio of 2.68 and a beta of 0.76. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. Waste Management, Inc. has a 52 week low of $68.30 and a 52 week high of $82.87.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. research analysts expect that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio (DPR) is 54.84%.
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A number of brokerages have weighed in on WM. BMO Capital Markets lifted their price objective on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a report on Friday, October 27th. Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Bank of America Corporation lowered their price objective on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Finally, Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $80.00 in a report on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $81.81.
About Waste Management
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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