Westchester Capital Management Inc. decreased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,386 shares of the business services provider's stock after selling 1,216 shares during the period. Waste Management accounts for about 4.5% of Westchester Capital Management Inc.'s portfolio, making the stock its 9th biggest position. Westchester Capital Management Inc.'s holdings in Waste Management were worth $18,037,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB grew its holdings in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider's stock valued at $366,537,000 after purchasing an additional 709,678 shares during the period. Impax Asset Management Group plc raised its position in Waste Management by 7.6% during the third quarter. Impax Asset Management Group plc now owns 1,741,090 shares of the business services provider's stock valued at $361,450,000 after purchasing an additional 122,696 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Waste Management by 10.1% in the third quarter. Assetmark Inc. now owns 2,077 shares of the business services provider's stock worth $431,000 after buying an additional 191 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Waste Management in the third quarter worth about $89,000. Finally, Kennebec Savings Bank bought a new stake in shares of Waste Management in the third quarter worth about $55,000. Institutional investors own 80.40% of the company's stock.
Insider Activity
In other Waste Management news, EVP John J. Morris sold 19,153 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 85,257 shares of the company's stock, valued at approximately $19,158,100.47. The trade was a 18.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO John A. Carroll sold 1,251 shares of the company's 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 directly owns 8,420 shares of the company's stock, valued at approximately $1,902,246.40. This trade represents a 12.94 % 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 90 days. 0.18% of the stock is currently owned by company insiders.
Waste Management Price Performance
Waste Management stock opened at $224.25 on Wednesday. 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 1 year low of $196.59 and a 1 year high of $235.81. The firm has a 50 day moving average price of $219.18 and a 200 day moving average price of $215.04. The company has a market cap of $90.18 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.71 and a beta of 0.75.
Waste Management (NYSE:WM - Get Free Report) last posted 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 net margin of 12.45% and a return on equity of 37.93%. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, March 14th. This is a positive change from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio (DPR) is presently 48.53%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on WM shares. Oppenheimer upped their price target on Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. 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 research note on Thursday, January 23rd. Scotiabank increased their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a report on Monday, February 3rd. CIBC raised their price objective on shares of 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 objective on shares of Waste Management from $243.00 to $252.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $236.65.
View Our Latest Stock Report on Waste Management
About Waste Management
(
Free Report)
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.
Further Reading
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