Franklin Street Advisors Inc. NC Has $8.42 Million Holdings in Waste Management, Inc. (WM)

Franklin Street Advisors Inc. NC raised its stake in Waste Management, Inc. (NYSE:WM) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 97,607 shares of the business services provider’s stock after purchasing an additional 1,379 shares during the quarter. Waste Management accounts for about 1.3% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 28th largest position. Franklin Street Advisors Inc. NC’s holdings in Waste Management were worth $8,424,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WM. Janus Henderson Group PLC raised its position in shares of Waste Management by 7,400.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock worth $316,712,000 after acquiring an additional 4,260,260 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Waste Management by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock worth $2,521,397,000 after acquiring an additional 1,621,347 shares in the last quarter. BlackRock Inc. raised its position in shares of Waste Management by 4.9% during the 2nd quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock worth $2,320,637,000 after acquiring an additional 1,475,583 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Waste Management by 49.2% during the 3rd quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock worth $189,189,000 after acquiring an additional 797,192 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Waste Management by 52.2% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock worth $152,073,000 after acquiring an additional 666,000 shares in the last quarter. 74.89% of the stock is currently owned by institutional investors.

In other Waste Management news, SVP Barry H. Caldwell sold 1,650 shares of Waste Management stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Several equities research analysts have recently weighed in on WM shares. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $80.00 in a research report on Wednesday, October 4th. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Bank of America dropped their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. KeyCorp raised their price target on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Waste Management in a research note on Friday, October 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $86.78.

Waste Management, Inc. (WM) traded down $0.41 during trading hours on Wednesday, reaching $87.28. The company had a trading volume of 804,137 shares, compared to its average volume of 1,820,817. The stock has a market cap of $37,900.00, a P/E ratio of 28.06, a PEG ratio of 2.64 and a beta of 0.75. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. Waste Management, Inc. has a 12-month low of $69.00 and a 12-month high of $88.40.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. equities research analysts predict that Waste Management, Inc. will post 3.2 EPS for the current fiscal year.

Waste Management declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.70 dividend on an annualized basis and a yield of 1.95%. Waste Management’s dividend payout ratio is presently 54.66%.

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Waste Management Profile

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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