Other hedge funds and other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. purchased a new stake in shares of Waste Management in the third quarter valued at about $25,000. Desjardins Global Asset Management Inc. purchased a new stake in shares of Waste Management in the second quarter valued at about $25,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Waste Management in the third quarter valued at about $31,000. TD Capital Management LLC acquired a new stake in shares of Waste Management in the third quarter valued at about $33,000. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Waste Management by 270.0% in the second quarter. HHM Wealth Advisors LLC now owns 259 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 78.48% of the company’s stock.
Insider Activity
In other news, Director John C. Pope sold 218 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $154.76, for a total value of $33,737.68. Following the completion of the transaction, the director now owns 55,809 shares of the company’s stock, valued at $8,637,000.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Waste Management from $157.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, February 6th. Morgan Stanley raised their price objective on shares of Waste Management from $177.00 to $179.00 and gave the company an “equal weight” rating in a research note on Thursday, February 2nd. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and reduced their price objective for the company from $185.00 to $171.00 in a research note on Monday, December 19th. Raymond James reduced their price objective on shares of Waste Management from $167.00 to $166.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. Finally, Jefferies Financial Group upgraded shares of Waste Management from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $191.00 in a research note on Tuesday, October 25th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Hold” and an average target price of $168.00.
Waste Management Stock Performance
NYSE:WM opened at $151.34 on Wednesday. The firm has a 50 day simple moving average of $156.42 and a 200-day simple moving average of $162.10. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.81 and a quick ratio of 0.77. The firm has a market cap of $61.77 billion, a PE ratio of 28.08, a P/E/G ratio of 2.33 and a beta of 0.72. Waste Management, Inc. has a 1-year low of $138.58 and a 1-year high of $175.98.
Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The business services provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.97 billion. Waste Management had a net margin of 11.36% and a return on equity of 32.91%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. On average, equities analysts expect that Waste Management, Inc. will post 6.09 EPS for the current year.
Waste Management announced that its board has initiated a share repurchase plan on Thursday, December 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Waste Management Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, March 9th. This is a positive change from Waste Management’s previous quarterly dividend of $0.65. Waste Management’s payout ratio is currently 48.24%.
Waste Management Company Profile
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Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2, and Tier 3. The Tier 1 segment consists of areas in the Southern United States. The Tier 2 segment consists of areas located in the Midwest and Northeast United States.
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