Brendel Financial Advisors LLC Acquires Shares of 10,692 Waste Management, Inc. $WM

Key Points

• Brendel Financial Advisors LLC opened a new position of 10,692 shares in Waste Management (NYSE:WM) during Q4, valued at about $2.35 million; institutional investors own roughly 80.4% of the stock.
• Wall Street consensus is a "Moderate Buy" with an average price target of $254.82, though some firms have higher targets (Wells Fargo raised its target to $273) while others maintain sector-perform ratings.
• Waste Management slightly missed Q4 EPS estimates ($1.93 vs. $1.95) despite 7.1% revenue growth year-over-year, raised its quarterly dividend to $0.945 (annualized $3.78, ~1.7% yield), and insiders have sold about 98,042 shares (~$23.0M) in the last 90 days.

Brendel Financial Advisors LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,692 shares of the business services provider's stock, valued at approximately $2,349,000.

A number of other large investors have also recently made changes to their positions in WM. Cornercap Investment Counsel Inc. acquired a new position in Waste Management in the third quarter valued at $1,583,000. Lockheed Martin Investment Management Co. purchased a new position in shares of Waste Management during the third quarter worth about $3,092,000. Guerra Advisors Inc grew its holdings in shares of Waste Management by 59.5% during the third quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider's stock worth $1,996,000 after buying an additional 3,371 shares during the last quarter. Capital Advisors Inc. OK increased its position in 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 valued at $43,192,000 after acquiring an additional 3,880 shares during the period. Finally, Compass Wealth Management LLC raised its stake in Waste Management by 537.0% during the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider's stock valued at $21,138,000 after acquiring an additional 80,695 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WM shares. Wolfe Research started coverage on Waste Management in a research note on Friday, March 13th. They issued a "peer perform" rating on the stock. Royal Bank Of Canada increased their price target on Waste Management from $223.00 to $235.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Scotiabank reissued a "sector perform" rating and issued a $250.00 price objective (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of Waste Management from $250.00 to $273.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. Finally, Morgan Stanley lowered their target price on shares of Waste Management from $232.00 to $230.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and an average price target of $254.82.

Waste Management Trading Down 1.7%

NYSE:WM opened at $227.12 on Wednesday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a fifty day moving average price of $233.38 and a two-hundred day moving average price of $222.03. The stock has a market capitalization of $91.51 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.44 and a beta of 0.54.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.945 per share. The ex-dividend date was Friday, March 13th. This is an increase from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management's dividend payout ratio (DPR) is currently 56.42%.

Insider Buying and Selling

In other news, CEO James C. Fish, Jr. sold 30,390 shares of Waste Management stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the completion of the sale, the chief executive officer directly owned 225,793 shares in the company, valued at approximately $52,013,675.48. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the sale, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 98,042 shares of company stock valued at $23,039,777 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Waste Management Company Profile

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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