First Horizon Advisors Inc. Has $11.15 Million Holdings in Waste Management, Inc. (NYSE:WM)

First Horizon Advisors Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,690 shares of the business services provider’s stock after purchasing an additional 462 shares during the period. First Horizon Advisors Inc.’s holdings in Waste Management were worth $11,146,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Parnassus Investments LLC grew its holdings in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after acquiring an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares during the period. Capital World Investors raised its position in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Legal & General Group Plc grew its position in shares of Waste Management by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Waste Management by 94,414.4% in the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 0.3 %

WM stock opened at $219.05 on Wednesday. The firm has a market capitalization of $87.92 billion, a PE ratio of 33.49, a P/E/G ratio of 2.30 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. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84. The stock’s 50 day moving average is $212.02 and its 200-day moving average is $209.86.

Waste Management (NYSE:WM) last issued 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WM. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.11.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

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.