Waste Management, Inc. $WM Shares Acquired by Golden State Equity Partners

Golden State Equity Partners increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 283.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,535 shares of the business services provider’s stock after acquiring an additional 4,091 shares during the period. Golden State Equity Partners’ holdings in Waste Management were worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mattern Capital Management LLC grew its holdings in shares of Waste Management by 23.2% in the third quarter. Mattern Capital Management LLC now owns 4,362 shares of the business services provider’s stock valued at $963,000 after purchasing an additional 820 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Waste Management by 4.0% during the third quarter. Bank Pictet & Cie Europe AG now owns 109,803 shares of the business services provider’s stock worth $24,248,000 after acquiring an additional 4,257 shares during the period. RB Capital Management LLC raised its stake in shares of Waste Management by 1.1% in the third quarter. RB Capital Management LLC now owns 16,945 shares of the business services provider’s stock valued at $3,742,000 after acquiring an additional 184 shares in the last quarter. Financial Consulate Inc. purchased a new position in Waste Management in the third quarter worth approximately $179,000. Finally, Salomon & Ludwin LLC lifted its holdings in Waste Management by 45.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 817 shares of the business services provider’s stock worth $180,000 after buying an additional 255 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $219.76 on Friday. The stock has a market cap of $88.53 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.71 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The business has a fifty day simple moving average of $212.21 and a 200-day simple moving average of $220.25. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58.

Waste Management (NYSE:WM) last released 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). The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Insider Activity

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WM. Sanford C. Bernstein initiated coverage on Waste Management in a research report on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 price target on the stock. Barclays decreased their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Scotiabank lowered their price target on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Waste Management in a research note on Monday. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.95.

Waste Management 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.