Renaissance Technologies LLC Cuts Stake in Waste Management, Inc. (NYSE:WM)

Renaissance Technologies LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 464,800 shares of the business services provider's stock after selling 1,500 shares during the period. Renaissance Technologies LLC owned about 0.12% of Waste Management worth $93,792,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its position in shares of Waste Management by 892.9% during the 4th 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. bought a new stake in shares of Waste Management during the 4th quarter worth $29,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management in the fourth quarter valued at about $33,000. Hurley Capital LLC bought a new position in Waste Management in the fourth quarter valued at about $34,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Waste Management in the fourth quarter worth about $35,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Up 0.7 %

Shares of NYSE WM traded up $1.61 during trading on Monday, hitting $230.99. 290,089 shares of the company traded hands, compared to its average volume of 1,743,625. The business's fifty day moving average is $227.33 and its 200 day moving average is $218.28. The firm has a market capitalization of $92.93 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $239.32.

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Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.43%. 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 dividend payout ratio is currently 48.53%.

Insider Buying and Selling at Waste Management

In other Waste Management news, CAO John A. Carroll sold 1,251 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $225.92, for a total value of $282,625.92. Following the completion of the sale, the chief accounting officer now owns 8,420 shares in the company, valued at approximately $1,902,246.40. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John J. Morris sold 19,153 shares of Waste Management stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the transaction, the executive vice president now directly owns 85,257 shares in the company, valued at approximately $19,158,100.47. This represents a 18.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,577 shares of company stock worth $21,662,464. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

WM has been the topic of a number of research reports. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Friday, January 31st. Morgan Stanley increased their target price on Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Citigroup boosted their price target 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 dropped their price objective on shares of Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Finally, Scotiabank upped their price target on shares of Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 8th. Nine equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $237.76.

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.