T3 Companies LLC Acquires 5,290 Shares of Waste Management, Inc. $WM

T3 Companies LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,290 shares of the business services provider’s stock, valued at approximately $1,079,000. Waste Management makes up 1.1% of T3 Companies LLC’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently bought and sold shares of WM. Main Street Group LTD acquired a new position in shares of Waste Management during the first quarter valued at $31,000. Cape Investment Advisory Inc. acquired a new stake in Waste Management in the second quarter worth about $36,000. Markowski Investments acquired a new stake in Waste Management in the second quarter worth about $38,000. Bogart Wealth LLC increased its position in Waste Management by 93.5% in the first quarter. Bogart Wealth LLC now owns 180 shares of the business services provider’s stock worth $41,000 after purchasing an additional 87 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in Waste Management during the 2nd quarter worth about $41,000. 80.40% of the stock is currently owned by institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, CAO John Carroll sold 1,365 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer directly owned 3,509 shares in the company, valued at $771,629.10. This represents a 28.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Stock Up 4.0%

Waste Management stock opened at $238.67 on Friday. The firm has a market capitalization of $95.40 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.93 and a beta of 0.42. The company’s 50 day simple moving average is $216.58 and its 200 day simple moving average is $222.21. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 8.09 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.9450 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. Waste Management’s payout ratio is presently 53.54%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WM. Wolfe Research began coverage on shares of Waste Management in a research report on Tuesday, September 15th. They set a “peer perform” rating on the stock. Canadian Imperial Bank of Commerce lowered their price target on shares of Waste Management from $250.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Stifel Nicolaus boosted their price target on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Scotiabank increased their price objective on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Finally, Barclays raised their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $256.06.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.