New England Research & Management Inc. Sells 75 Shares of Waste Management, Inc. (NYSE:WM)

New England Research & Management Inc. lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,053 shares of the business services provider’s stock after selling 75 shares during the period. New England Research & Management Inc.’s holdings in Waste Management were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WM. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after acquiring an additional 12,664 shares during the period. Capital World Investors boosted its holdings in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Legal & General Group Plc grew its position in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after purchasing an additional 221,380 shares during the period. Finally, AMF Tjanstepension AB raised its position in shares of Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after buying an additional 720,358 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Trading Down 1.3 %

NYSE:WM traded down $2.68 during mid-day trading on Monday, hitting $205.41. 1,792,496 shares of the company’s stock were exchanged, compared to its average volume of 1,654,661. Waste Management, Inc. has a fifty-two week low of $153.95 and a fifty-two week high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $82.39 billion, a P/E ratio of 33.62, a PEG ratio of 2.32 and a beta of 0.74. The company has a 50 day simple moving average of $206.74 and a 200-day simple moving average of $208.50.

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

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.46%. Waste Management’s payout ratio is 49.10%.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 1st. Scotiabank began coverage on shares of Waste Management in a research report on Friday. They set a “sector perform” rating and a $220.00 price objective for the company. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. CIBC dropped 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 report on Friday, July 26th. Finally, William Blair initiated coverage on shares of Waste Management in a research report on Thursday. They set an “outperform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $218.89.

About Waste Management

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.