Core Alternative Capital Sells 7,420 Shares of Waste Management, Inc. (NYSE:WM)

Core Alternative Capital trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 17.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,175 shares of the business services provider's stock after selling 7,420 shares during the quarter. Waste Management makes up about 2.0% of Core Alternative Capital's portfolio, making the stock its 11th biggest holding. Core Alternative Capital's holdings in Waste Management were worth $8,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC raised its stake in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the period. West Branch Capital LLC raised its stake in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares during the period. Transce3nd LLC acquired a new stake in Waste Management during the 4th quarter valued at $28,000. Hurley Capital LLC bought a new position in Waste Management during the fourth quarter worth $34,000. Finally, Fairway Wealth LLC increased its holdings in shares of Waste Management by 87.6% in the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock valued at $40,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Insider Buying and Selling

In other news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management Price Performance

Shares of NYSE WM traded up $3.04 during trading hours on Friday, hitting $226.43. 1,525,978 shares of the stock were exchanged, compared to its average volume of 1,625,495. The company's fifty day simple moving average is $232.87 and its two-hundred day simple moving average is $225.01. The company has a market cap of $91.12 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.64. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter last year, the business posted $1.75 EPS. The company's revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management's dividend payout ratio (DPR) is currently 49.77%.

Analyst Ratings Changes

Several brokerages recently commented on WM. UBS Group lifted their target price on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Melius began coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. Scotiabank increased their target price on Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 27th. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.00.

Waste Management Profile

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.