Oppenheimer & Co. Inc. Has $24.82 Million Holdings in Waste Management, Inc. (NYSE:WM)

Oppenheimer & Co. Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,574 shares of the business services provider’s stock after selling 797 shares during the period. Oppenheimer & Co. Inc.’s holdings in Waste Management were worth $24,824,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WM. OLD Second National Bank of Aurora boosted its position in Waste Management by 4.2% during the third quarter. OLD Second National Bank of Aurora now owns 2,566 shares of the business services provider’s stock valued at $533,000 after acquiring an additional 103 shares during the last quarter. Pinnacle Financial Partners Inc raised its holdings in shares of Waste Management by 0.9% during the third quarter. Pinnacle Financial Partners Inc now owns 27,831 shares of the business services provider’s stock valued at $5,778,000 after purchasing an additional 237 shares during the period. Mengis Capital Management Inc. raised its holdings in shares of Waste Management by 1.3% during the third quarter. Mengis Capital Management Inc. now owns 5,803 shares of the business services provider’s stock valued at $1,205,000 after purchasing an additional 73 shares during the period. Community Bank & Trust Waco Texas raised its holdings in shares of Waste Management by 4.3% during the third quarter. Community Bank & Trust Waco Texas now owns 3,161 shares of the business services provider’s stock valued at $656,000 after purchasing an additional 129 shares during the period. Finally, Empower Advisory Group LLC raised its holdings in shares of Waste Management by 1.3% during the third quarter. Empower Advisory Group LLC now owns 436,629 shares of the business services provider’s stock valued at $90,644,000 after purchasing an additional 5,725 shares during the period. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WM. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. BMO Capital Markets upped their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, 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 the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of Waste Management stock traded up $0.69 on Wednesday, hitting $225.47. 85,828 shares of the company traded hands, compared to its average volume of 1,613,775. The firm’s 50-day simple moving average is $210.75 and its 200 day simple moving average is $209.43. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a market cap of $90.50 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.36 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.50.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. Analysts expect that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is presently 45.87%.

About Waste Management

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.