Sone Capital Management LLC Buys New Stake in Waste Management, Inc. (NYSE:WM)

Sone Capital Management LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,492 shares of the business services provider's stock, valued at approximately $24,919,000. Waste Management accounts for about 3.2% of Sone Capital Management LLC's holdings, making the stock its largest holding.

Several other hedge funds have also made changes to their positions in the business. Transce3nd LLC purchased a new position in Waste Management during the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in Waste Management during the fourth quarter worth about $33,000. Hurley Capital LLC purchased a new position in Waste Management in the fourth quarter valued at about $34,000. Sugar Maple Asset Management LLC purchased a new position in Waste Management in the fourth quarter valued at about $35,000. Finally, Pineridge Advisors LLC purchased a new position in Waste Management in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Up 0.1%

NYSE WM traded up $0.29 during mid-day trading on Wednesday, reaching $234.18. 1,864,352 shares of the stock were exchanged, compared to its average volume of 1,657,701. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32. The business's fifty day simple moving average is $228.91 and its 200 day simple moving average is $221.97. The stock has a market capitalization of $94.23 billion, a PE ratio of 34.44, a PEG ratio of 2.71 and a beta of 0.67. 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 (NYSE:WM - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same quarter last year, the business earned $1.75 earnings per share. Waste Management's revenue was up 16.7% compared to the same quarter last year. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

Analyst Ratings Changes

A number of research analysts have issued reports on WM shares. Citigroup increased their target price on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Jefferies Financial Group dropped their target price 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. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. StockNews.com raised shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Oppenheimer raised their price objective on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.29.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 5,732 shares of Waste Management stock in a transaction on Monday, February 24th. The shares were sold at an average price of $227.51, for a total value of $1,304,087.32. Following the transaction, the vice president now owns 55,587 shares in the company, valued at $12,646,598.37. This trade represents a 9.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of Waste Management stock in a transaction on Monday, February 24th. The shares were sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the transaction, the chief executive officer now owns 211,061 shares in the company, valued at $48,212,664.23. The trade was a 17.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,522 shares of company stock worth $18,084,124 in the last quarter. 0.18% of the stock is owned by 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.