Lazard Freres Gestion S.A.S. Takes Position in Waste Management, Inc. $WM

Lazard Freres Gestion S.A.S. purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,842 shares of the business services provider’s stock, valued at approximately $848,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Waste Management by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after purchasing an additional 292,868 shares during the last quarter. Geode Capital Management LLC grew its position in Waste Management by 1.5% in the second quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after acquiring an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Waste Management by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock worth $1,232,131,000 after acquiring an additional 74,528 shares in the last quarter. Norges Bank bought a new position in shares of Waste Management in the second quarter worth about $1,064,206,000. Finally, Amundi boosted its stake in shares of Waste Management by 8.6% in the 2nd quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock valued at $804,809,000 after purchasing an additional 284,733 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 1.1%

Shares of NYSE:WM opened at $219.76 on Friday. The business has a fifty day simple moving average of $212.21 and a 200 day simple moving average of $220.25. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The firm has a market cap of $88.53 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.71 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 EPS. Analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.825 dividend. The ex-dividend date was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s payout ratio is 51.97%.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada dropped their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company initiated coverage on Waste Management in a research note on Friday, November 14th. They issued an “overweight” rating and a $238.00 price target for the company. National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, CIBC reduced their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.