Waste Management, Inc. (NYSE:WM) Stock Position Reduced by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,013,960 shares of the business services provider's stock after selling 97,145 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.25% of Waste Management worth $204,608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Waste Management in the fourth quarter worth $1,009,726,000. Raymond James Financial Inc. bought a new position in shares of Waste Management in the fourth quarter valued at approximately $340,611,000. Capital Research Global Investors lifted its stake in shares of Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock worth $334,716,000 after buying an additional 1,184,905 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Waste Management by 22.5% during the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock worth $1,265,629,000 after buying an additional 1,151,237 shares during the period. Finally, Vanguard Group Inc. grew its stake in Waste Management by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after buying an additional 538,567 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WM shares. William Blair restated an "outperform" rating on shares of Waste Management in a report on Friday, January 31st. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and increased their target price for the company from $210.00 to $265.00 in a research note on Friday. Jefferies Financial Group cut their price target on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Citigroup raised their price objective on shares of Waste Management from $242.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $239.28.

Insider Activity at Waste Management

In related news, SVP Tara J. Hemmer sold 4,576 shares of the business'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 transaction, the senior vice president now owns 58,765 shares in the company, valued at $13,052,881.80. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John J. Morris sold 19,153 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total value of $4,303,870.63. Following the completion of the transaction, the executive vice president now owns 85,257 shares in the company, valued at $19,158,100.47. The trade was a 18.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,577 shares of company stock valued at $21,662,464 over the last ninety days. 0.18% of the stock is owned by insiders.

Waste Management Trading Up 0.4 %

Shares of Waste Management stock opened at $228.28 on Friday. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $239.32. The stock has a market capitalization of $91.84 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The company has a 50-day simple moving average of $227.95 and a 200 day simple moving average of $219.72. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

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 analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Research analysts expect 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. Stockholders of record on Friday, March 14th were paid a $0.825 dividend. The ex-dividend date was Friday, March 14th. This is a positive change 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 1.45%. Waste Management's dividend payout ratio (DPR) is 48.53%.

Waste Management 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.

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