First Fiduciary Investment Counsel Inc. Grows Holdings in Waste Management, Inc. (NYSE:WM)

First Fiduciary Investment Counsel Inc. grew its stake in Waste Management, Inc. (NYSE:WM) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 61,399 shares of the business services provider’s stock after acquiring an additional 1,137 shares during the period. Waste Management comprises 2.6% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Waste Management were worth $12,746,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $31,000. Fairway Wealth LLC increased its stake in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 2nd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in Waste Management during the 2nd quarter worth approximately $39,000. Finally, Hexagon Capital Partners LLC increased its stake in Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock worth $42,000 after buying an additional 80 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WM. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday. Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, Argus boosted their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Up 1.7 %

Shares of NYSE:WM opened at $224.08 on Friday. The stock has a market cap of $89.94 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.31 and a beta of 0.74. The firm has a fifty day moving average price of $210.21 and a 200 day moving average price of $209.26. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 1-year low of $168.73 and a 1-year high of $226.36.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The sale 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 company insiders.

Waste Management Company 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.