Waste Management, Inc. (NYSE:WM) Stock Position Lifted by Ledyard National Bank

Ledyard National Bank boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 10.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,308 shares of the business services provider’s stock after purchasing an additional 225 shares during the period. Ledyard National Bank’s holdings in Waste Management were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the second quarter worth approximately $31,000. Fairway Wealth LLC grew its position in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the second quarter worth approximately $36,000. Finally, Fairscale Capital LLC bought a new stake in Waste Management in the second quarter worth approximately $39,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM stock opened at $211.09 on Wednesday. The company has a market capitalization of $84.71 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00. The company’s 50 day moving average price is $208.59 and its two-hundred day moving average price is $208.52. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

WM has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada reduced their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Finally, CIBC cut their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.