Sowell Financial Services LLC Buys 2,448 Shares of Waste Management, Inc. (WM)
Sowell Financial Services LLC increased its stake in Waste Management, Inc. (NYSE:WM) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,009 shares of the business services provider’s stock after acquiring an additional 2,448 shares during the period. Sowell Financial Services LLC’s holdings in Waste Management were worth $731,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Commonwealth Equity Services Inc raised its position in Waste Management by 5.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 190,882 shares of the business services provider’s stock valued at $14,940,000 after purchasing an additional 9,472 shares during the last quarter. Advisors Asset Management Inc. raised its position in Waste Management by 10.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,790 shares of the business services provider’s stock valued at $1,549,000 after purchasing an additional 1,889 shares during the last quarter. Commerce Bank raised its position in Waste Management by 1.7% during the 3rd quarter. Commerce Bank now owns 552,540 shares of the business services provider’s stock valued at $43,247,000 after purchasing an additional 9,140 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Waste Management by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,447,073 shares of the business services provider’s stock valued at $113,262,000 after purchasing an additional 12,451 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Waste Management by 3.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,996 shares of the business services provider’s stock valued at $5,166,000 after purchasing an additional 2,324 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.
Waste Management, Inc. (WM) traded down $0.03 during trading on Friday, hitting $81.70. The company had a trading volume of 2,141,200 shares, compared to its average volume of 1,669,777. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. The stock has a market cap of $35,020.00, a P/E ratio of 26.20, a P/E/G ratio of 2.65 and a beta of 0.76. Waste Management, Inc. has a 52 week low of $68.42 and a 52 week high of $82.87.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. research analysts predict that Waste Management, Inc. will post 3.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.70 annualized dividend and a yield of 2.08%. Waste Management’s dividend payout ratio is 54.66%.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. upped their target price on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. BMO Capital Markets upped their target price on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Credit Suisse Group set a $90.00 target price on Waste Management and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Bank of America Corporation reduced their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Waste Management presently has a consensus rating of “Buy” and an average target price of $81.81.
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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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