AMI Asset Management Corp Sells 5,615 Shares of Waste Management, Inc. (NYSE:WM)

AMI Asset Management Corp reduced its stake in Waste Management, Inc. (NYSE:WM) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 213,014 shares of the business services provider’s stock after selling 5,615 shares during the period. Waste Management makes up approximately 2.4% of AMI Asset Management Corp’s investment portfolio, making the stock its 18th biggest position. AMI Asset Management Corp’s holdings in Waste Management were worth $44,222,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position 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 valued at $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management during the second quarter valued at approximately $31,000. Fairway Wealth LLC raised its position in Waste Management by 62.9% during 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 in the last quarter. Fairscale Capital LLC acquired a new position in Waste Management during the second quarter valued at approximately $39,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the second quarter valued at approximately $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WM has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. CIBC lowered their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Scotiabank began coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. BMO Capital Markets lowered their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Finally, William Blair began coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Stock Performance

Shares of WM opened at $219.11 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $87.93 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The firm’s fifty day simple moving average is $209.03 and its two-hundred day simple moving average is $208.67. Waste Management, Inc. has a 12 month low of $161.60 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate 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 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $1.63 EPS. As a group, analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid 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 1.37%. Waste Management’s dividend payout ratio (DPR) is currently 47.69%.

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.