Duff & Phelps Investment Management Co. decreased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,894 shares of the business services provider's stock after selling 1,356 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in Waste Management were worth $10,673,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Waste Management in the fourth quarter worth $1,009,726,000. Raymond James Financial Inc. bought a new stake in shares of Waste Management during the 4th quarter worth approximately $340,611,000. Parnassus Investments LLC boosted its position in shares of Waste Management by 22.5% during the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock worth $1,265,629,000 after acquiring an additional 1,151,237 shares in the last quarter. Vanguard Group Inc. raised its position in Waste Management by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after purchasing an additional 538,567 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Waste Management by 138.0% during the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider's stock worth $149,168,000 after purchasing an additional 416,579 shares during the last quarter. Institutional investors own 80.40% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on WM shares. Stifel Nicolaus boosted their price target on Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. CIBC increased their target price on shares of Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Scotiabank lifted their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a report on Monday, February 3rd. Raymond James raised their target price on shares of Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $236.65.
View Our Latest Research Report on Waste Management
Waste Management Stock Up 0.6 %
WM traded up $1.50 during midday trading on Tuesday, hitting $233.01. The company had a trading volume of 483,827 shares, compared to its average volume of 1,613,011. The stock's 50 day moving average price is $224.97 and its 200 day moving average price is $216.79. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $235.81. The company has a market capitalization of $93.70 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.71 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.
Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.
Waste Management Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.825 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.42%. Waste Management's dividend payout ratio is 48.53%.
Insider Activity at Waste Management
In other Waste Management news, EVP Charles C. Boettcher sold 693 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the transaction, the executive vice president now owns 45,542 shares of the company's stock, valued at approximately $10,046,109.78. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Johnson Varkey sold 560 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares of the company's stock, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 over the last 90 days. Insiders own 0.18% of the company's stock.
Waste Management Company Profile
(
Free Report)
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.
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