Waste Management, Inc. (NYSE:WM) Shares Bought by nVerses Capital LLC

nVerses Capital LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,900 shares of the business services provider’s stock after purchasing an additional 1,400 shares during the quarter. Waste Management makes up approximately 0.5% of nVerses Capital LLC’s holdings, making the stock its 29th biggest holding. nVerses Capital LLC’s holdings in Waste Management were worth $1,017,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WM. Sustainable Growth Advisers LP acquired a new stake in Waste Management during the first quarter valued at approximately $300,594,000. Capital World Investors raised its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new position in Waste Management during the first quarter worth $193,955,000. Wulff Hansen & CO. boosted its holdings in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB increased its stake in Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of recent research reports. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. CIBC dropped their target price 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. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Shares of NYSE WM traded down $0.14 during trading on Thursday, hitting $213.00. The company had a trading volume of 120,265 shares, compared to its average volume of 1,625,061. Waste Management, Inc. has a 52 week low of $153.95 and a 52 week high of $225.00. The business’s 50-day moving average is $207.98 and its 200 day moving average is $208.45. The company has a market cap of $85.48 billion, a P/E ratio of 33.88, a PEG 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.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 yield of 1.41%. Waste Management’s payout ratio is presently 47.69%.

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.