Diamond Hill Capital Management Inc. Boosts Position in Waste Management, Inc. (NYSE:WM)

Diamond Hill Capital Management Inc. raised its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,801,842 shares of the business services provider's stock after buying an additional 437,613 shares during the period. Waste Management comprises about 1.5% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Diamond Hill Capital Management Inc. owned approximately 0.45% of Waste Management worth $374,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WM. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Waste Management during the second quarter valued at approximately $31,000. Fairway Wealth LLC raised its stake in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock worth $36,000 after acquiring an additional 66 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Waste Management in the 2nd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in shares of Waste Management in the second quarter worth about $39,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Waste Management by 67.2% in the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider's stock valued at $42,000 after purchasing an additional 80 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on 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 lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on Waste Management from $214.00 to $227.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. CIBC increased their price target on Waste Management from $213.00 to $228.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, StockNews.com upgraded Waste Management from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $226.11.

Insider Buying and Selling at Waste Management

In other 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 sale, the director now owns 3,875 shares of the company's stock, valued at $834,946.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Shares of WM traded up $0.75 during trading hours on Monday, reaching $224.87. 334,857 shares of the company traded hands, compared to its average volume of 1,615,449. The stock has a market capitalization of $90.26 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.36 and a beta of 0.74. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The business has a fifty day moving average price of $210.21 and a 200-day moving average price of $209.25. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.50.

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, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the business posted $1.63 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management's payout ratio is 45.87%.

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.