CHB Investment Group LLC Buys New Position in Waste Management, Inc. (NYSE:WM)

CHB Investment Group LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,030 shares of the business services provider’s stock, valued at approximately $2,705,000.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management during the second quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the first quarter worth $35,000. Fairway Wealth LLC lifted its holdings in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Finally, Fairscale Capital LLC bought a new stake in Waste Management during the second quarter worth $39,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on WM. Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. BMO Capital Markets dropped their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. CIBC dropped their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. William Blair began coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Trading Down 0.3 %

NYSE WM opened at $212.51 on Friday. The stock has a market cap of $85.28 billion, a P/E ratio of 33.88, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a 50 day simple moving average of $208.13 and a two-hundred day simple moving average of $208.49. Waste Management, Inc. has a fifty-two week low of $153.95 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. On average, analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is presently 47.69%.

Waste Management Profile

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.