Core Alternative Capital Has $6.01 Million Stock Position in Waste Management, Inc. $WM

Core Alternative Capital lessened its holdings in Waste Management, Inc. (NYSE:WM) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,199 shares of the business services provider’s stock after selling 3,998 shares during the period. Waste Management comprises 1.7% of Core Alternative Capital’s holdings, making the stock its 14th biggest holding. Core Alternative Capital’s holdings in Waste Management were worth $6,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Loomis Sayles & Co. L P bought a new position in Waste Management in the 2nd quarter valued at approximately $40,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Waste Management in the 3rd quarter valued at $41,000. Wealth Watch Advisors INC bought a new stake in Waste Management during the 2nd quarter worth $43,000. Halbert Hargrove Global Advisors LLC increased its holdings in Waste Management by 47.0% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 244 shares of the business services provider’s stock worth $54,000 after purchasing an additional 78 shares in the last quarter. Finally, Gladwyn Financial Advisors Inc. acquired a new stake in shares of Waste Management during the second quarter valued at about $58,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. TD Cowen reiterated a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. Sanford C. Bernstein lifted their price target on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Citigroup decreased their price objective on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. The Goldman Sachs Group began coverage on Waste Management in a report on Monday, November 24th. They set a “buy” rating and a $256.00 target price on the stock. Finally, Barclays decreased their price target on Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $251.19.

Waste Management Trading Up 0.4%

Shares of WM stock opened at $231.26 on Wednesday. The company has a market cap of $93.17 billion, a P/E ratio of 36.42, a PEG ratio of 2.58 and a beta of 0.59. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The stock has a 50 day simple moving average of $218.71 and a two-hundred day simple moving average of $219.20. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.825 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred 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 owned 15,540 shares in the company, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

About Waste Management

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.