Neo Ivy Capital Management Makes New Investment in Waste Management, Inc. (NYSE:WM)

Neo Ivy Capital Management acquired a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,778 shares of the business services provider's stock, valued at approximately $1,408,000.

A number of other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Waste Management by 94,414.4% during the third 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 period. Wulff Hansen & CO. boosted its stake in Waste Management by 20,402.6% in the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider's stock valued at $185,196,000 after acquiring an additional 863,846 shares in the last quarter. Swedbank AB boosted its stake in shares of 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 buying an additional 709,678 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Waste Management by 248.5% during the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider's stock worth $210,092,000 after buying an additional 702,188 shares during the period. Finally, Parnassus Investments LLC boosted its stake in shares of Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider's stock worth $1,063,072,000 after buying an additional 520,096 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction 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 transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

Waste Management Trading Down 1.1 %

Shares of NYSE:WM traded down $2.41 during mid-day trading on Wednesday, hitting $213.67. The stock had a trading volume of 605,218 shares, compared to its average volume of 1,610,778. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $85.76 billion, a PE ratio of 32.94, a P/E/G ratio of 2.34 and a beta of 0.75. Waste Management, Inc. has a 12-month low of $173.01 and a 12-month high of $230.39. The company's 50 day moving average is $217.30 and its 200-day moving average is $211.32.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Waste Management, Inc. will post 7.31 EPS for the current 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. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. Waste Management's payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WM shares. BMO Capital Markets raised their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a "market perform" rating in a research report on Wednesday, October 30th. UBS Group increased their target price on shares of Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. StockNews.com raised shares of Waste Management from a "buy" rating to a "strong-buy" rating in a report on Monday. Stifel Nicolaus increased their target price on shares of Waste Management from $243.00 to $252.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a "sector perform" rating and a $220.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $230.72.

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.