Riverhead Capital Management LLC Has $3.62 Million Stake in Waste Management, Inc. (WM)

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Riverhead Capital Management LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 31.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,088 shares of the business services provider’s stock after purchasing an additional 9,539 shares during the period. Riverhead Capital Management LLC’s holdings in Waste Management were worth $3,622,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Point72 Hong Kong Ltd grew its holdings in shares of Waste Management by 1,095.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,194 shares during the period. Almanack Investment Partners LLC. purchased a new position in shares of Waste Management during the 3rd quarter worth approximately $112,000. Braun Bostich & Associates Inc. grew its holdings in shares of Waste Management by 546.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after acquiring an additional 1,223 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Waste Management by 15.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after acquiring an additional 14,720 shares during the period. Finally, Vigilant Capital Management LLC grew its holdings in shares of Waste Management by 200.0% during the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 75.16% of the company’s stock.

Shares of WM opened at $91.21 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 52 week low of $78.39 and a 52 week high of $95.49. The company has a market capitalization of $39.59 billion, a PE ratio of 28.33, a P/E/G ratio of 1.82 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. As a group, analysts forecast that Waste Management, Inc. will post 4.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a $0.465 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.04%. Waste Management’s dividend payout ratio is currently 57.76%.

In other news, CFO Devina A. Rankin sold 8,107 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $94.41, for a total value of $765,381.87. Following the sale, the chief financial officer now directly owns 21,373 shares of the company’s stock, valued at approximately $2,017,824.93. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

A number of research firms have weighed in on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and upped their target price for the stock from $84.00 to $107.00 in a report on Tuesday. UBS Group set a $90.00 target price on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. BMO Capital Markets upped their target price on Waste Management to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.14.

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Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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