Corundum Group Inc. Lowers Holdings in Waste Management, Inc. (NYSE:WM)

Corundum Group Inc. lowered its holdings in Waste Management, Inc. (NYSE:WM) by 36.5% during the third quarter, Holdings Channel.com reports. The firm owned 5,651 shares of the business services provider’s stock after selling 3,242 shares during the period. Corundum Group Inc.’s holdings in Waste Management were worth $1,173,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management in the 2nd quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter worth approximately $35,000. Fairway Wealth LLC raised its position in Waste Management by 62.9% in 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 during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the second quarter worth $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird dropped their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Scotiabank initiated coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Stock Down 0.2 %

Waste Management stock opened at $212.75 on Monday. The stock has a market capitalization of $85.38 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.38 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. The stock has a 50 day moving average of $208.28 and a two-hundred day moving average of $208.45. Waste Management, Inc. has a twelve month low of $153.95 and a twelve month high of $225.00.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 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.