Canton Hathaway LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,600 shares of the business services provider’s stock, valued at approximately $596,000. Waste Management accounts for 0.4% of Canton Hathaway LLC’s investment portfolio, making the stock its 27th biggest holding.
Other large investors have also recently made changes to their positions in the company. Windward Capital Management Co. CA increased its stake in shares of Waste Management by 2.3% during the third quarter. Windward Capital Management Co. CA now owns 25,359 shares of the business services provider’s stock valued at $2,291,000 after acquiring an additional 563 shares during the period. Exeter Financial LLC increased its stake in shares of Waste Management by 3.5% during the second quarter. Exeter Financial LLC now owns 16,994 shares of the business services provider’s stock valued at $1,382,000 after acquiring an additional 569 shares during the period. State of Alaska Department of Revenue grew its position in Waste Management by 0.7% in the third quarter. State of Alaska Department of Revenue now owns 78,651 shares of the business services provider’s stock worth $7,105,000 after buying an additional 583 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its position in Waste Management by 1.7% in the second quarter. Redpoint Investment Management Pty Ltd now owns 35,687 shares of the business services provider’s stock worth $2,903,000 after buying an additional 591 shares during the last quarter. Finally, Roanoke Asset Management Corp NY grew its position in Waste Management by 6.8% in the second quarter. Roanoke Asset Management Corp NY now owns 9,328 shares of the business services provider’s stock worth $759,000 after buying an additional 597 shares during the last quarter. Institutional investors own 74.62% of the company’s stock.
In related news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total value of $33,787.32. Following the completion of the transaction, the director now owns 24,149 shares of the company’s stock, valued at approximately $2,009,679.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.
Waste Management stock opened at $88.55 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $38.74 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. Waste Management, Inc. has a 1 year low of $76.54 and a 1 year high of $92.85.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.76 billion. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 earnings per share. Sell-side analysts predict that Waste Management, Inc. will post 4.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, September 6th. Waste Management’s dividend payout ratio is 57.76%.
Several research analysts have issued reports on WM shares. ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. BMO Capital Markets restated a “buy” rating and issued a $93.00 price target on shares of Waste Management in a research report on Thursday, July 26th. Finally, Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Thursday, September 20th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $94.38.
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.
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