DRW Securities LLC Takes $773,000 Position in Waste Management, Inc. (NYSE:WM)

DRW Securities LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,722 shares of the business services provider's stock, valued at approximately $773,000.

A number of other hedge funds have also bought and sold shares of WM. Independent Advisor Alliance grew its holdings in shares of Waste Management by 21.7% during the 3rd quarter. Independent Advisor Alliance now owns 61,187 shares of the business services provider's stock worth $12,702,000 after purchasing an additional 10,906 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Waste Management by 3.5% during the third quarter. Daiwa Securities Group Inc. now owns 73,222 shares of the business services provider's stock worth $15,201,000 after buying an additional 2,506 shares in the last quarter. Garner Asset Management Corp raised its position in shares of Waste Management by 6.6% in the 3rd quarter. Garner Asset Management Corp now owns 10,420 shares of the business services provider's stock valued at $2,163,000 after buying an additional 649 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Waste Management by 7.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,672 shares of the business services provider's stock worth $1,385,000 after acquiring an additional 443 shares during the period. Finally, SevenBridge Financial Group LLC acquired a new stake in shares of Waste Management during the 3rd quarter worth approximately $215,000. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

WM traded up $1.80 during trading on Tuesday, reaching $227.45. The stock had a trading volume of 1,210,598 shares, compared to its average volume of 1,615,188. The stock has a market cap of $91.29 billion, a PE ratio of 34.78, a PEG ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a one year low of $168.73 and a one year high of $228.52. The business has a 50-day moving average of $213.68 and a 200-day moving average of $210.32.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, December 6th. Waste Management's payout ratio is 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company's stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

WM has been the subject of a number of research reports. Oppenheimer increased their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They set a "sector perform" rating and a $220.00 target price on the stock. CIBC boosted their price target on shares of Waste Management from $213.00 to $228.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Waste Management from $220.00 to $226.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.11.

Waste Management 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.