Kovack Advisors Inc. Cuts Stake in Waste Management, Inc. (NYSE:WM)

Kovack Advisors Inc. cut its holdings in Waste Management, Inc. (NYSE:WM) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,883 shares of the business services provider’s stock after selling 215 shares during the period. Kovack Advisors Inc.’s holdings in Waste Management were worth $599,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares during the last quarter. Capital World Investors increased its holdings in 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 purchasing an additional 1,303,466 shares during the period. Swedbank AB bought a new position in Waste Management during the 1st quarter valued at approximately $193,955,000. Wulff Hansen & CO. grew its position in shares of Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after buying an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in shares of 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 buying an additional 720,358 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 1.8 %

WM stock opened at $221.72 on Friday. The stock has a market capitalization of $88.99 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.74. 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 $226.84. The business has a fifty day moving average price of $211.08 and a 200-day moving average price of $209.55.

Waste Management (NYSE:WM) last issued its 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 business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 EPS. Equities analysts forecast that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WM shares. Oppenheimer lifted their price target on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair began coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.11.

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.