RDA Financial Network Boosts Stake in Waste Management, Inc. (NYSE:WM)

RDA Financial Network boosted its holdings in Waste Management, Inc. (NYSE:WM) by 4.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,759 shares of the business services provider’s stock after acquiring an additional 224 shares during the quarter. RDA Financial Network’s holdings in Waste Management were worth $1,196,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Swedbank AB boosted its position in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares in the last quarter. NBC Securities Inc. grew its stake in Waste Management by 3.1% in the 3rd quarter. NBC Securities Inc. now owns 4,086 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 122 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Waste Management by 1.1% during the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 12,503 shares of the business services provider’s stock valued at $2,596,000 after acquiring an additional 140 shares in the last quarter. Wesbanco Bank Inc. raised its position in Waste Management by 3.6% during the third quarter. Wesbanco Bank Inc. now owns 4,781 shares of the business services provider’s stock worth $993,000 after acquiring an additional 168 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of Waste Management by 6.5% in the third quarter. Grove Bank & Trust now owns 1,278 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 78 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.3 %

WM traded up $0.56 during trading on Tuesday, hitting $214.06. 777,119 shares of the company’s stock were exchanged, compared to its average volume of 1,635,151. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year high of $225.00. The stock has a 50 day moving average price of $207.60 and a 200 day moving average price of $208.42. The firm has a market cap of $85.86 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WM. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. 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 target for the company. Finally, BMO Capital Markets reduced their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Twelve investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

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.