T3 Companies LLC Makes New $1.08 Million Investment in Waste Management, Inc. $WM

T3 Companies LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,290 shares of the business services provider’s stock, valued at approximately $1,079,000. Waste Management makes up about 1.1% of T3 Companies LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Waste Management by 1.8% in the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock valued at $6,849,981,000 after purchasing an additional 535,079 shares during the period. State Street Corp lifted its holdings in shares of Waste Management by 2.9% in the second quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock valued at $4,013,831,000 after purchasing an additional 507,209 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Waste Management by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,121,427 shares of the business services provider’s stock worth $695,704,000 after buying an additional 35,322 shares during the period. Swedbank AB boosted its position in shares of Waste Management by 17.0% during the first quarter. Swedbank AB now owns 2,392,868 shares of the business services provider’s stock worth $549,857,000 after buying an additional 348,183 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Waste Management by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,320,966 shares of the business services provider’s stock worth $533,340,000 after buying an additional 26,847 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WM. Oppenheimer dropped their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Citigroup boosted their target price on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce reduced their price target on Waste Management from $250.00 to $225.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Waste Management from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Finally, Scotiabank lifted their price objective on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.06.

Insider Activity

In other news, CAO John Carroll sold 1,365 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer owned 3,509 shares in the company, valued at $771,629.10. This represents a 28.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Price Performance

NYSE:WM opened at $238.67 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The stock’s 50-day simple moving average is $216.58 and its 200 day simple moving average is $222.21. The company has a market cap of $95.40 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.93 and a beta of 0.42. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Waste Management’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management, Inc. will post 8.09 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.9450 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s payout ratio is 53.54%.

Waste Management Company Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.