Waste Management, Inc. (NYSE:WM) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 231,987 shares of the business services provider's stock after acquiring an additional 9,014 shares during the period. Prudential Financial Inc. owned 0.06% of Waste Management worth $46,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates grew its holdings in shares of 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 buying an additional 125 shares in the last quarter. General Partner Inc. purchased a new stake in Waste Management in the 4th quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at $33,000. Sugar Maple Asset Management LLC purchased a new position in shares of Waste Management during the 4th quarter worth $35,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Waste Management by 65.7% during the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider's stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.5 %

NYSE:WM traded down $1.23 during trading hours on Friday, hitting $227.80. The stock had a trading volume of 1,264,803 shares, compared to its average volume of 1,616,188. The business has a 50 day simple moving average of $224.57 and a two-hundred day simple moving average of $216.63. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $235.81. 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 company has a market cap of $91.60 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75.

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Waste Management (NYSE:WM - Get Free Report) last released 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%. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. This is an increase from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio is currently 48.53%.

Analyst Ratings Changes

WM has been the topic of several recent analyst reports. CIBC increased their target price on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Friday, January 31st. Raymond James upped their price target on shares of Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Jefferies Financial Group decreased their price target on shares of Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Finally, Morgan Stanley upped their price objective on Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" 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 given a strong buy rating to the company. According to MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus price target of $236.65.

Insider Buying and Selling at Waste Management

In related news, VP Donald J. Smith sold 191 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.22, for a total value of $42,062.02. Following the completion of the transaction, the vice president now directly owns 6,129 shares in the company, valued at approximately $1,349,728.38. This trade represents a 3.02 % 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 124 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the sale, the senior vice president now owns 8,491 shares in the company, valued at $1,995,045.36. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

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.