Zurcher Kantonalbank Zurich Cantonalbank Has $55.95 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Waste Management, Inc. (NYSE:WM) by 10.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 269,529 shares of the business services provider’s stock after selling 31,995 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Waste Management worth $55,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $31,000. Fairway Wealth LLC grew its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $39,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 0.5 %

NYSE WM opened at $228.50 on Thursday. The stock has a 50-day simple moving average of $214.21 and a 200 day simple moving average of $210.45. The company has a market capitalization of $91.71 billion, a PE ratio of 34.94, a P/E/G ratio of 2.37 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Research analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Analysts Set New Price Targets

Several analysts have recently weighed in on WM shares. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 23rd. BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Ten 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 company’s stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $228.94.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.