NEOS Investment Management LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 30.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,060 shares of the business services provider's stock after buying an additional 4,976 shares during the period. NEOS Investment Management LLC's holdings in Waste Management were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Townsquare Capital LLC grew its position in shares of Waste Management by 8.5% during the third quarter. Townsquare Capital LLC now owns 27,280 shares of the business services provider's stock worth $5,663,000 after acquiring an additional 2,133 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Waste Management by 5.2% in the third quarter. Glenmede Trust Co. NA now owns 34,205 shares of the business services provider's stock valued at $7,101,000 after purchasing an additional 1,701 shares during the period. CreativeOne Wealth LLC boosted its holdings in Waste Management by 18.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,614 shares of the business services provider's stock valued at $335,000 after purchasing an additional 249 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of Waste Management by 3.2% in the 3rd quarter. Financial Counselors Inc. now owns 97,426 shares of the business services provider's stock valued at $20,226,000 after purchasing an additional 3,031 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Waste Management by 21.7% during the third quarter. Public Sector Pension Investment Board now owns 11,235 shares of the business services provider's stock worth $2,332,000 after purchasing an additional 2,000 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. CIBC upped their price target on shares of Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. 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. Scotiabank lifted their price objective on Waste Management from $250.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. Citigroup raised their target price on shares of Waste Management from $242.00 to $255.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, William Blair restated an "outperform" rating on shares of Waste Management in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $236.65.
Check Out Our Latest Stock Report on WM
Insider Activity at Waste Management
In other news, CAO John A. Carroll sold 1,251 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $225.92, for a total transaction of $282,625.92. Following the sale, the chief accounting officer now owns 8,420 shares in the company, valued at $1,902,246.40. The trade was a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald J. Smith sold 191 shares of Waste Management stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.22, for a total value of $42,062.02. Following the transaction, the vice president now owns 6,129 shares in the company, valued at $1,349,728.38. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,577 shares of company stock worth $21,662,464 over the last quarter. 0.18% of the stock is currently owned by company insiders.
Waste Management Stock Performance
Shares of NYSE:WM traded up $1.52 during trading on Tuesday, hitting $233.03. 418,927 shares of the company traded hands, compared to its average volume of 1,612,709. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The business's fifty day moving average is $224.97 and its 200-day moving average is $216.79. The stock has a market capitalization of $93.70 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a one year low of $196.59 and a one year high of $235.81.
Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, equities analysts predict 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 issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost 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 (DPR) is 48.53%.
About Waste Management
(
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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