Penn Davis Mcfarland Inc. Takes Position in Waste Management, Inc. (NYSE:WM)

Penn Davis Mcfarland Inc. purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 58,030 shares of the business services provider’s stock, valued at approximately $12,047,000. Waste Management comprises approximately 1.4% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 24th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vest Financial LLC increased its stake in shares of Waste Management by 201.0% in the 3rd quarter. Vest Financial LLC now owns 9,504 shares of the business services provider’s stock valued at $1,973,000 after purchasing an additional 6,347 shares during the last quarter. OLD National Bancorp IN grew its position in Waste Management by 14.0% during the 3rd quarter. OLD National Bancorp IN now owns 7,071 shares of the business services provider’s stock worth $1,468,000 after acquiring an additional 868 shares during the last quarter. Cyndeo Wealth Partners LLC grew its position in Waste Management by 7.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,567 shares of the business services provider’s stock worth $533,000 after acquiring an additional 185 shares during the last quarter. Veracity Capital LLC grew its position in Waste Management by 0.9% during the 3rd quarter. Veracity Capital LLC now owns 6,255 shares of the business services provider’s stock worth $1,298,000 after acquiring an additional 57 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in Waste Management by 11.9% during the 3rd quarter. Everett Harris & Co. CA now owns 1,843 shares of the business services provider’s stock worth $383,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.2 %

Shares of NYSE:WM opened at $212.75 on Monday. The company has a market capitalization of $85.38 billion, a price-to-earnings ratio of 33.82, a P/E/G ratio of 2.38 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The business’s 50-day moving average is $208.28 and its 200-day moving average is $208.45. Waste Management, Inc. has a 1 year low of $153.95 and a 1 year high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the business earned $1.51 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WM. Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, CIBC cut their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.89.

Waste Management 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.