Waste Management, Inc. (NYSE:WM) is Kornitzer Capital Management Inc. KS’s 8th Largest Position

Kornitzer Capital Management Inc. KS trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,062 shares of the business services provider’s stock after selling 2,693 shares during the period. Waste Management accounts for approximately 1.3% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 8th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Waste Management were worth $70,389,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Norden Group LLC purchased a new position in Waste Management during the 1st quarter valued at about $418,000. Advisory Alpha LLC boosted its position in shares of Waste Management by 1.8% in the first quarter. Advisory Alpha LLC now owns 4,707 shares of the business services provider’s stock valued at $1,003,000 after acquiring an additional 81 shares during the period. Advisory Services Network LLC increased its holdings in Waste Management by 3.3% during the 1st quarter. Advisory Services Network LLC now owns 22,025 shares of the business services provider’s stock worth $4,695,000 after acquiring an additional 698 shares during the period. Duality Advisers LP purchased a new position in shares of Waste Management during the 1st quarter valued at $1,116,000. Finally, Empirical Finance LLC boosted its stake in Waste Management by 3.4% during the first quarter. Empirical Finance LLC now owns 13,610 shares of the business services provider’s stock valued at $2,901,000 after buying an additional 442 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WM. Morgan Stanley upped their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus upped their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, CIBC upped their price objective on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Trading Up 0.1 %

WM traded up $0.28 during trading on Thursday, hitting $218.76. 64,209 shares of the stock traded hands, compared to its average volume of 1,614,340. The firm has a 50-day moving average of $209.76 and a 200 day moving average of $209.06. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $225.00. The firm has a market capitalization of $87.80 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The company 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%. During the same period last year, the firm earned $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company 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.