Chancellor Financial Group WB LP acquired a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,085 shares of the business services provider's stock, valued at approximately $623,000.
Several other institutional investors and hedge funds also recently made changes to their positions in WM. T. Rowe Price Investment Management Inc. lifted its stake in Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after acquiring an additional 44 shares during the period. Ascent Group LLC lifted its position in Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after buying an additional 44 shares during the period. Checchi Capital Advisers LLC lifted its position in Waste Management by 0.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock valued at $1,366,000 after buying an additional 45 shares during the period. Covestor Ltd lifted its position in Waste Management by 8.2% during the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock valued at $123,000 after buying an additional 46 shares during the period. Finally, Catalyst Financial Partners LLC lifted its position in Waste Management by 2.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider's stock valued at $411,000 after buying an additional 48 shares during the period. Institutional investors own 80.40% of the company's stock.
Wall Street Analyst Weigh In
WM has been the subject of several recent research reports. Robert W. Baird raised their price objective on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Morgan Stanley boosted their target price on Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Finally, CIBC boosted their target price on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and an average price target of $247.06.
Get Our Latest Stock Analysis on WM
Waste Management Stock Performance
Shares of NYSE:WM traded up $3.33 during mid-day trading on Friday, reaching $241.09. 2,439,995 shares of the company traded hands, compared to its average volume of 1,665,228. The company's 50 day moving average price is $230.41 and its 200-day moving average price is $222.79. The firm has a market cap of $97.02 billion, a PE ratio of 35.45, a PEG ratio of 2.71 and a beta of 0.67. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $241.68.
Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS. On average, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.
Waste Management Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.37%. Waste Management's payout ratio is 49.77%.
Insiders Place Their Bets
In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now directly owns 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO John A. Carroll sold 1,251 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $225.92, for a total value of $282,625.92. Following the completion of the transaction, the chief accounting officer now owns 8,420 shares of the company's stock, valued at $1,902,246.40. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,947 shares of company stock worth $20,536,508 in the last three months. 0.18% of the stock is owned by company insiders.
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.
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