Waste Management, Inc. $WM Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer cut its Waste Management stake by 27.2% in the third quarter, selling 13,171 shares and retaining 35,185 shares valued at approximately $7.18 million. Institutional investors collectively own 80.4% of WM.
• Waste Management reported quarterly revenue of $6.85 billion, up 6.3% year over year and above estimates, but earnings of $2.15 per share narrowly missed the $2.18 consensus forecast.
• WM pays an annualized dividend of $3.78 per share, yielding about 1.6%, while analysts maintain a “Moderate Buy” consensus with an average price target of $257.89.

Bank Julius Baer & Co. Ltd Zurich decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 27.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,185 shares of the business services provider's stock after selling 13,171 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Waste Management were worth $7,177,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Waste Management by 1.8% in the second quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider's stock worth $6,849,981,000 after buying an additional 535,079 shares during the last quarter. State Street Corp grew its holdings in shares of Waste Management by 2.9% during the second quarter. State Street Corp now owns 18,008,931 shares of the business services provider's stock valued at $4,013,831,000 after buying an additional 507,209 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Waste Management by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,121,427 shares of the business services provider's stock valued at $695,704,000 after acquiring an additional 35,322 shares in the last quarter. Swedbank AB increased its position in shares of Waste Management by 17.0% during the first quarter. Swedbank AB now owns 2,392,868 shares of the business services provider's stock valued at $549,857,000 after acquiring an additional 348,183 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Waste Management by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,320,966 shares of the business services provider's stock worth $533,340,000 after acquiring an additional 26,847 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE:WM opened at $237.68 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.87 and a current ratio of 0.82. The stock has a 50-day simple moving average of $218.13 and a two-hundred day simple moving average of $225.24. The firm has a market capitalization of $94.51 billion, a PE ratio of 31.19, a P/E/G ratio of 2.88 and a beta of 0.42. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.03). Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The firm had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post 8.06 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a dividend of $0.9450 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, September 11th. Waste Management's dividend payout ratio is currently 49.61%.

Insider Activity at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares of the company's stock, valued at approximately $771,629.10. This trade represents a 28.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WM. Citigroup upped their price objective on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Barclays boosted their price target on Waste Management from $277.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. upped their price target on Waste Management from $235.00 to $260.00 and gave the company an "overweight" rating in a report on Thursday, October 29th. Raymond James Financial set a $251.00 price objective on Waste Management in a research report on Thursday. Finally, Scotiabank increased their price objective on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $257.89.

About Waste Management

Waste Management, Inc, doing business as WM NYSE: WM, is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM's services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.

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