Van ECK Associates Corp Has $11.85 Million Stake in Waste Management, Inc. (NYSE:WM)

Van ECK Associates Corp lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,927 shares of the business services provider’s stock after selling 979 shares during the quarter. Van ECK Associates Corp’s holdings in Waste Management were worth $11,845,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the 2nd quarter valued at approximately $31,000. Fairway Wealth LLC raised its position in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management in the second quarter worth $36,000. Fairscale Capital LLC acquired a new position in Waste Management in the 2nd quarter valued at $39,000. Finally, Hexagon Capital Partners LLC raised its holdings in Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after acquiring an additional 80 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. Royal Bank of Canada raised their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Scotiabank initiated coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Performance

NYSE WM opened at $215.88 on Wednesday. Waste Management, Inc. has a 1-year low of $167.78 and a 1-year high of $225.00. The company has a 50 day moving average of $209.58 and a 200-day moving average of $209.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market cap of $86.65 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.26 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm 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%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. On average, equities analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. Waste Management’s payout ratio is 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by 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.