Rothschild Investment Corp IL Raises Stock Position in Waste Management, Inc. (NYSE:WM)

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Rothschild Investment Corp IL increased its stake in Waste Management, Inc. (NYSE:WM) by 178.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 95,433 shares of the business services provider’s stock after acquiring an additional 61,110 shares during the quarter. Waste Management makes up about 1.3% of Rothschild Investment Corp IL’s portfolio, making the stock its 16th biggest holding. Rothschild Investment Corp IL’s holdings in Waste Management were worth $10,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC grew its holdings in shares of Waste Management by 1.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,111 shares of the business services provider’s stock worth $590,000 after buying an additional 86 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Waste Management by 1.5% during the second quarter. AdvisorNet Financial Inc now owns 6,022 shares of the business services provider’s stock worth $695,000 after buying an additional 87 shares in the last quarter. 6 Meridian boosted its position in shares of Waste Management by 1.7% during the 2nd quarter. 6 Meridian now owns 5,181 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 88 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Waste Management by 2.8% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,247 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 89 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its position in shares of Waste Management by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 7,652 shares of the business services provider’s stock valued at $883,000 after acquiring an additional 90 shares during the last quarter. 73.17% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on WM. CIBC reissued a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Macquarie reissued an “outperform” rating and set a $130.00 price target on shares of Waste Management in a research report on Wednesday, September 4th. Royal Bank of Canada set a $126.00 price target on shares of Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Scotiabank began coverage on shares of Waste Management in a research report on Monday, July 22nd. They set an “outperform” rating on the stock. Finally, Raymond James set a $127.00 price target on shares of Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and an average target price of $116.82.

In other news, Director Patrick W. Gross sold 289 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the sale, the director now owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Watson sold 8,019 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the sale, the vice president now directly owns 17,254 shares in the company, valued at approximately $2,060,127.60. The disclosure for this sale can be found here. Insiders sold 13,636 shares of company stock worth $1,619,433 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

NYSE WM traded down $1.10 during trading hours on Friday, reaching $116.34. The company had a trading volume of 1,537,529 shares, compared to its average volume of 1,957,810. The stock has a 50-day moving average of $116.08 and a 200 day moving average of $112.49. Waste Management, Inc. has a 1-year low of $83.22 and a 1-year high of $121.77. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $48.69 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61.

Waste Management (NYSE:WM) last posted its earnings results on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 4.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.512 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.05 dividend on an annualized basis and a yield of 1.76%. Waste Management’s payout ratio is currently 48.81%.

About Waste Management

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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