BayBridge Capital Group LLC Sells 84 Shares of Waste Management, Inc. (NYSE:WM)

BayBridge Capital Group LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,341 shares of the business services provider’s stock after selling 84 shares during the period. Waste Management accounts for about 0.9% of BayBridge Capital Group LLC’s investment portfolio, making the stock its 28th biggest holding. BayBridge Capital Group LLC’s holdings in Waste Management were worth $1,316,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Waste Management by 8.8% during the 1st quarter. Sunbelt Securities Inc. now owns 754 shares of the business services provider’s stock worth $161,000 after purchasing an additional 61 shares during the last quarter. Astoria Portfolio Advisors LLC. bought a new stake in Waste Management in the first quarter valued at approximately $223,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Waste Management by 15.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,654 shares of the business services provider’s stock valued at $3,550,000 after buying an additional 2,242 shares during the last quarter. Vicus Capital bought a new position in shares of Waste Management during the 1st quarter worth approximately $295,000. Finally, CRA Financial Services LLC bought a new stake in Waste Management in the 1st quarter valued at $227,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 1.0 %

Shares of WM opened at $206.80 on Friday. 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, Inc. has a 52-week low of $160.90 and a 52-week high of $225.00. The firm has a market cap of $82.99 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.34 and a beta of 0.74. The business’s fifty day moving average is $208.74 and its 200-day moving average is $208.54.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is 47.69%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WM. BMO Capital Markets dropped 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 report on Friday, July 26th. Royal Bank of Canada lowered 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 report on Friday, July 26th. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer dropped their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.89.

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.