Arjuna Capital Reduces Holdings in Waste Management, Inc. $WM

Key Points

• Arjuna Capital cut its Waste Management stake by 40.2% in the fourth quarter, selling 10,845 shares and leaving it with 16,150 shares worth about $3.55 million.
• Insiders also sold shares, including SVP Tara J. Hemmer and SVP Johnson Varkey; over the last three months, insiders sold 47,490 shares valued at $11.4 million.
• Waste Management reported solid quarterly results, with EPS of $1.81 beating estimates and revenue rising 3.5% year over year, while analysts maintain a Moderate Buy rating and average price target of $255.67.

Arjuna Capital decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 40.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,150 shares of the business services provider's stock after selling 10,845 shares during the period. Waste Management accounts for approximately 0.9% of Arjuna Capital's investment portfolio, making the stock its 26th largest position. Arjuna Capital's holdings in Waste Management were worth $3,548,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Lockheed Martin Investment Management Co. acquired a new position in shares of Waste Management in the 3rd quarter worth approximately $3,092,000. Guerra Advisors Inc lifted its holdings in shares of Waste Management by 59.5% in the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider's stock worth $1,996,000 after acquiring an additional 3,371 shares during the last quarter. Capital Advisors Inc. OK lifted its holdings in shares of Waste Management by 2.0% in the 4th quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider's stock worth $43,192,000 after acquiring an additional 3,880 shares during the last quarter. Compass Wealth Management LLC lifted its holdings in shares of Waste Management by 537.0% in the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider's stock worth $21,138,000 after acquiring an additional 80,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Waste Management by 19.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider's stock worth $15,301,000 after acquiring an additional 11,135 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insiders Place Their Bets

In other news, SVP Tara J. Hemmer sold 4,818 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total value of $1,165,136.94. Following the sale, the senior vice president directly owned 78,918 shares in the company, valued at approximately $19,084,739.94. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 47,490 shares of company stock worth $11,416,338. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Performance

Shares of Waste Management stock opened at $219.84 on Friday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The business has a 50-day simple moving average of $229.21 and a 200-day simple moving average of $222.92. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $88.28 billion, a PE ratio of 31.81, a P/E/G ratio of 2.29 and a beta of 0.49.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the business earned $1.67 EPS. The company's revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WM shares. Oppenheimer upped their price objective on shares of Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Scotiabank reaffirmed a "sector perform" rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Barclays upped their target price on shares of Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Robert W. Baird upped their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Finally, TD Cowen upped their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $255.67.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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