Honkamp Krueger Financial Services Inc. decreased its position in Waste Management, Inc. (NYSE:WM) by 19.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,691 shares of the business services provider’s stock after selling 2,091 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in Waste Management were worth $750,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Lord Abbett & CO. LLC bought a new stake in Waste Management in the 2nd quarter valued at approximately $19,445,000. Mutual of America Capital Management LLC raised its stake in shares of Waste Management by 1.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 50,624 shares of the business services provider’s stock worth $3,962,000 after purchasing an additional 830 shares in the last quarter. Wendell David Associates Inc. bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $205,000. Tompkins Financial Corp raised its stake in shares of Waste Management by 2.0% during the 3rd quarter. Tompkins Financial Corp now owns 39,936 shares of the business services provider’s stock worth $3,126,000 after purchasing an additional 771 shares in the last quarter. Finally, Sabal Trust CO bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.
Shares of Waste Management, Inc. (NYSE:WM) opened at $85.15 on Tuesday. Waste Management, Inc. has a 12 month low of $70.08 and a 12 month high of $89.73. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $36,927.33, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.93 and a beta of 0.70.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business earned $0.75 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. equities analysts expect that Waste Management, Inc. will post 4.04 earnings per share for the current year.
Waste Management declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patrick W. Gross sold 387 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the sale, the director now owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on WM. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective on shares of Waste Management in a research note on Thursday, January 4th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Credit Suisse Group upgraded Waste Management to a “buy” rating and set a $97.00 price objective on the stock in a research note on Saturday. Finally, Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Waste Management has an average rating of “Buy” and an average target price of $87.60.
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Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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