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Diamond Hill Capital Management Inc. Trims Stock Position in Waste Management, Inc. (NYSE:WM)

Waste Management logo with Business Services background

Diamond Hill Capital Management Inc. lessened its position in Waste Management, Inc. (NYSE:WM - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,828,228 shares of the business services provider's stock after selling 111,410 shares during the quarter. Waste Management comprises about 1.9% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position. Diamond Hill Capital Management Inc. owned about 0.45% of Waste Management worth $423,253,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of WM. T. Rowe Price Investment Management Inc. raised its position 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 increased its stake in shares of Waste Management by 0.6% during the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC lifted its stake in Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares during the last quarter. Stonebridge Financial Group LLC increased its position in Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after buying an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC lifted its position in shares of Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after buying an additional 45 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.4%

Shares of WM stock traded down $1.03 during trading hours on Friday, reaching $229.58. The company's stock had a trading volume of 1,126,277 shares, compared to its average volume of 1,581,502. The firm's fifty day simple moving average is $231.81 and its 200 day simple moving average is $227.11. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $92.39 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.86 and a beta of 0.64. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

Insider Activity

In related 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 sale, the chief financial officer owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. HSBC raised shares of Waste Management from a "hold" rating to a "buy" rating and raised their price objective for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Citigroup raised their price objective on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Wednesday, June 25th. Finally, Robert W. Baird raised their price objective on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus price target of $252.41.

View Our Latest Analysis on WM

Waste Management Profile

(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.

See Also

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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