Waste Management, Inc. $WM Stock Position Raised by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,492 shares of the business services provider’s stock after acquiring an additional 2,438 shares during the period. Perigon Wealth Management LLC’s holdings in Waste Management were worth $4,967,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Waste Management during the 2nd quarter valued at approximately $1,064,206,000. Vontobel Holding Ltd. lifted its stake in Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock valued at $487,157,000 after buying an additional 1,800,728 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Waste Management by 15,782.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after acquiring an additional 1,717,603 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in shares of Waste Management by 55.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after acquiring an additional 1,034,258 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Waste Management by 982.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock valued at $195,692,000 after purchasing an additional 804,285 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of several analyst reports. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and raised their price target for the company from $238.00 to $242.00 in a research note on Tuesday, November 4th. Citigroup increased their price objective on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. National Bankshares cut their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Cowen reissued a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group started coverage on shares of Waste Management in a research note on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.95.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Price Performance

Shares of Waste Management stock opened at $221.03 on Monday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. The stock has a market cap of $89.05 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.58. The company’s 50-day moving average price is $211.78 and its two-hundred day moving average price is $220.45.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.