Weatherly Asset Management L. P. decreased its holdings in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,256 shares of the business services provider’s stock after selling 1,734 shares during the period. Waste Management makes up about 2.3% of Weatherly Asset Management L. P.’s portfolio, making the stock its 9th largest position. Weatherly Asset Management L. P.’s holdings in Waste Management were worth $16,669,000 at the end of the most recent quarter.
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Several other institutional investors have also recently bought and sold shares of WM. Community Bank & Trust Waco Texas grew its stake in shares of Waste Management by 2.9% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 2,262 shares of the business services provider’s stock worth $362,000 after acquiring an additional 63 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of Waste Management by 3.5% in the 3rd quarter. Marcum Wealth LLC now owns 1,934 shares of the business services provider’s stock worth $310,000 after acquiring an additional 66 shares in the last quarter. Allworth Financial LP grew its position in Waste Management by 0.7% during the third quarter. Allworth Financial LP now owns 9,952 shares of the business services provider’s stock valued at $1,594,000 after buying an additional 66 shares during the period. LWM Advisory Services LLC grew its position in Waste Management by 3.5% during the third quarter. LWM Advisory Services LLC now owns 1,966 shares of the business services provider’s stock valued at $315,000 after buying an additional 66 shares during the period. Finally, Revolve Wealth Partners LLC grew its position in Waste Management by 5.0% during the third quarter. Revolve Wealth Partners LLC now owns 1,398 shares of the business services provider’s stock valued at $224,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 78.48% of the company’s stock.
Insider Transactions at Waste Management
In other news, CFO Devina A. Rankin sold 200 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $155.00, for a total value of $31,000.00. Following the sale, the chief financial officer now directly owns 64,317 shares of the company’s stock, valued at $9,969,135. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Devina A. Rankin sold 200 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $155.00, for a total value of $31,000.00. Following the sale, the chief financial officer now directly owns 64,317 shares of the company’s stock, valued at $9,969,135. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tara J. Hemmer sold 7,515 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $155.00, for a total transaction of $1,164,825.00. Following the completion of the sale, the senior vice president now directly owns 46,542 shares in the company, valued at $7,214,010. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,027 shares of company stock valued at $4,806,619. 0.18% of the stock is currently owned by corporate insiders.
Waste Management Stock Performance
NYSE WM traded down $2.46 during trading on Friday, hitting $153.15. 2,902,332 shares of the company’s stock traded hands, compared to its average volume of 1,837,856. Waste Management, Inc. has a 12-month low of $138.89 and a 12-month high of $175.98. The stock has a market capitalization of $62.51 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.33 and a beta of 0.72. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.77 and a current ratio of 0.81. The business has a 50 day moving average of $152.41 and a 200-day moving average of $159.14.
Waste Management (NYSE:WM – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The business services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Waste Management had a return on equity of 32.91% and a net margin of 11.36%. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 6.09 earnings per share for the current fiscal year.
Waste Management declared that its Board of Directors has approved a share repurchase plan on Thursday, December 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Waste Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.83%. This is an increase from Waste Management’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, March 9th. Waste Management’s dividend payout ratio is presently 51.95%.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Waste Management in a research report on Thursday. They set a “buy” rating for the company. BMO Capital Markets reduced their price target on shares of Waste Management from $167.00 to $158.00 and set a “market perform” rating for the company in a research report on Thursday, February 2nd. Raymond James reduced their price target on shares of Waste Management from $167.00 to $166.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Waste Management from $157.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, February 6th. Finally, Citigroup dropped their price objective on shares of Waste Management from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, February 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Waste Management presently has an average rating of “Hold” and an average price target of $169.50.
Waste Management Profile
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada.
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