FORA Capital LLC Boosts Position in Waste Management, Inc. (NYSE:WM)

FORA Capital LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 707.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,600 shares of the business services provider’s stock after buying an additional 25,058 shares during the period. FORA Capital LLC’s holdings in Waste Management were worth $5,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Activest Wealth Management raised its holdings in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at about $31,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Fairscale Capital LLC purchased a new position in Waste Management during the second quarter valued at approximately $39,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter worth approximately $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM stock traded up $2.15 on Wednesday, hitting $229.60. The company had a trading volume of 146,963 shares, compared to its average volume of 1,608,606. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $230.39. 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 firm has a market cap of $92.15 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. The company has a 50-day moving average price of $213.68 and a 200-day moving average price of $210.32.

Waste Management (NYSE:WM) last announced its quarterly 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. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. As a group, equities research analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.31%. Waste Management’s dividend payout ratio is presently 45.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WM shares. Royal Bank of Canada lifted their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. UBS Group lifted their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. Finally, Argus raised their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

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.