Ladenburg Thalmann Financial Services Inc. Sells 1,717 Shares of Waste Management, Inc. (WM)
Ladenburg Thalmann Financial Services Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 280,827 shares of the business services provider’s stock after selling 1,717 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned 0.06% of Waste Management worth $21,985,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Hudock Capital Group LLC lifted its holdings in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 12 shares during the period. Lincoln National Corp lifted its holdings in Waste Management by 0.5% in the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after acquiring an additional 21 shares during the period. Bridgewater Wealth & Financial Management LLC lifted its holdings in Waste Management by 0.5% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 22 shares during the period. First Interstate Bank lifted its holdings in Waste Management by 2.4% in the second quarter. First Interstate Bank now owns 1,618 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 38 shares during the period. Finally, Mcrae Capital Management Inc. lifted its holdings in Waste Management by 0.8% in the second quarter. Mcrae Capital Management Inc. now owns 6,267 shares of the business services provider’s stock valued at $460,000 after acquiring an additional 50 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.
WM has been the subject of a number of recent analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $82.00 target price on shares of Waste Management in a report on Friday, September 8th. Stifel Nicolaus downgraded Waste Management from a “buy” rating to a “hold” rating and reduced their target price for the company from $85.00 to $80.00 in a report on Wednesday, October 4th. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Bank of America reduced their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Finally, KeyCorp raised their price target on Waste Management from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $83.31.
Shares of Waste Management, Inc. (WM) traded up $0.73 during mid-day trading on Monday, hitting $85.30. The stock had a trading volume of 1,049,537 shares, compared to its average volume of 1,678,908. Waste Management, Inc. has a twelve month low of $69.00 and a twelve month high of $84.57. The stock has a market capitalization of $36,720.00, a PE ratio of 27.11, a P/E/G ratio of 2.75 and a beta of 0.75. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. analysts forecast that Waste Management, Inc. will post 3.2 EPS for the current 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 given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, November 30th. Waste Management’s dividend payout ratio is currently 54.66%.
Waste Management 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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