Parallel Advisors LLC Grows Stake in Waste Management, Inc. (NYSE:WM)

Parallel Advisors LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,175 shares of the business services provider's stock after purchasing an additional 1,601 shares during the quarter. Parallel Advisors LLC's holdings in Waste Management were worth $2,053,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WM. Activest Wealth Management increased its holdings in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider's stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management in the 4th quarter worth about $29,000. Halbert Hargrove Global Advisors LLC bought a new position in Waste Management in the 4th quarter worth about $33,000. Finally, Sugar Maple Asset Management LLC bought a new position in Waste Management in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WM shares. StockNews.com downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Citigroup lifted their price target on Waste Management from $242.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Morgan Stanley lifted their price target on Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. CIBC lifted their price target on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Finally, Stifel Nicolaus lifted their price target on Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $236.65.

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Insider Activity

In related news, CAO John A. Carroll sold 209 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the transaction, the chief accounting officer now directly owns 9,066 shares of the company's stock, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tara J. Hemmer sold 4,576 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the sale, the senior vice president now directly owns 58,765 shares of the company's stock, valued at $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. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Down 0.9 %

Waste Management stock traded down $2.14 during mid-day trading on Friday, hitting $224.76. The company had a trading volume of 2,535,970 shares, compared to its average volume of 1,532,040. 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's 50 day moving average price is $222.69 and its two-hundred day moving average price is $215.82. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $235.81. The company has a market capitalization of $90.38 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM - Get Free Report) last released 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 return on equity of 37.93% and a net margin of 12.45%. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.825 per share. This is an increase from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, March 14th. Waste Management's dividend payout ratio is presently 48.53%.

About Waste Management

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.