Waste Management, Inc. (NYSE:WM) Stock Position Reduced by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 195,068 shares of the business services provider’s stock after selling 2,792 shares during the quarter. Waste Management makes up about 1.4% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest position. KCM Investment Advisors LLC’s holdings in Waste Management were worth $40,496,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC grew its stake in Waste Management by 16.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 10,875 shares of the business services provider’s stock worth $2,318,000 after buying an additional 1,521 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Waste Management by 3.4% in the 1st quarter. Blair William & Co. IL now owns 58,733 shares of the business services provider’s stock worth $12,519,000 after acquiring an additional 1,920 shares during the period. Twin Tree Management LP bought a new stake in Waste Management in the 1st quarter valued at about $2,963,000. Nwam LLC boosted its stake in Waste Management by 11.5% during the 1st quarter. Nwam LLC now owns 3,413 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 352 shares during the period. Finally, Banco Santander S.A. grew its position in Waste Management by 1.7% in the 1st quarter. Banco Santander S.A. now owns 69,328 shares of the business services provider’s stock worth $14,777,000 after purchasing an additional 1,178 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM stock traded down $1.29 during mid-day trading on Friday, reaching $220.43. 248,635 shares of the stock traded hands, compared to its average volume of 1,610,343. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average of $211.34 and a two-hundred day moving average of $209.63. The firm has a market capitalization of $88.47 billion, a PE ratio of 33.72, a P/E/G ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $226.84.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.36%. Waste Management’s payout ratio is currently 45.87%.

Wall Street Analyst Weigh In

WM has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer lifted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Argus increased their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.