Pathstone Holdings LLC Increases Holdings in Waste Management, Inc. (NYSE:WM)

Pathstone Holdings LLC grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,403 shares of the business services provider's stock after buying an additional 5,296 shares during the period. Pathstone Holdings LLC's holdings in Waste Management were worth $13,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Nixon Peabody Trust Co. increased its stake in shares of Waste Management by 1.3% in the third quarter. Nixon Peabody Trust Co. now owns 74,816 shares of the business services provider's stock valued at $15,532,000 after buying an additional 945 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of Waste Management by 3.4% in the third quarter. Meeder Advisory Services Inc. now owns 7,189 shares of the business services provider's stock valued at $1,492,000 after buying an additional 239 shares during the period. Aljian Capital Management LLC acquired a new stake in Waste Management during the third quarter worth approximately $435,000. TrinityPoint Wealth LLC grew its stake in Waste Management by 5.1% during the third quarter. TrinityPoint Wealth LLC now owns 3,086 shares of the business services provider's stock worth $641,000 after purchasing an additional 151 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in Waste Management by 27.7% during the third quarter. Thrivent Financial for Lutherans now owns 62,629 shares of the business services provider's stock worth $13,002,000 after purchasing an additional 13,604 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $218.78 on Thursday. The business's fifty day simple moving average is $212.24 and its 200 day simple moving average is $209.92. The firm has a market capitalization of $87.81 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $226.84. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

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, topping analysts' consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for 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 quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. As a group, analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. Waste Management's dividend payout ratio (DPR) is currently 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 on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company's stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on WM. CIBC raised their target price on Waste Management from $213.00 to $228.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their target price on Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Scotiabank started coverage on Waste Management in a research note on Friday, October 4th. They set a "sector perform" rating and a $220.00 target price for the company. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.