NewEdge Advisors LLC Purchases 6,292 Shares of Waste Management, Inc. (NYSE:WM)

NewEdge Advisors LLC grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,923 shares of the business services provider's stock after buying an additional 6,292 shares during the period. NewEdge Advisors LLC's holdings in Waste Management were worth $10,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in Waste Management in the fourth quarter valued at approximately $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $33,000. Hurley Capital LLC bought a new position in shares of Waste Management in the 4th quarter worth $34,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Waste Management in the 4th quarter valued at $35,000. 80.40% of the stock is currently owned by institutional investors.

Insider Transactions at Waste Management

In related news, EVP Charles C. Boettcher sold 693 shares of the 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 sale, the executive vice president now owns 45,542 shares in the company, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tara J. Hemmer sold 4,576 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the transaction, the senior vice president now owns 58,765 shares of the company's stock, valued at approximately $13,052,881.80. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Performance

Shares of NYSE WM traded down $2.54 during midday trading on Wednesday, hitting $227.42. The company's stock had a trading volume of 563,215 shares, compared to its average volume of 1,640,563. The firm has a market capitalization of $91.50 billion, a price-to-earnings ratio of 33.44, a P/E/G ratio of 2.71 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The stock has a fifty day moving average price of $227.94 and a 200 day moving average price of $219.32. Waste Management, Inc. has a one year low of $196.59 and a one year high of $239.32.

Waste Management (NYSE:WM - Get Free Report) last posted its 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 forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, March 14th. This is a positive change from Waste Management's previous quarterly dividend of $0.75. Waste Management's payout ratio is presently 48.53%.

Analysts Set New Price Targets

WM has been the topic of a number of recent research reports. Raymond James raised their price objective on shares of Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Citigroup boosted their price objective on Waste Management from $242.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Jefferies Financial Group cut their target price on Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. CIBC increased their price target on Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. Finally, StockNews.com cut shares of Waste Management from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $237.76.

Waste Management Company Profile

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.