F m Investments LLC Buys 11,197 Shares of Waste Management, Inc. $WM

Key Points

• F m Investments LLC increased its stake in Waste Management by 21% in the fourth quarter, adding 11,197 shares to bring its total holding to 64,533 shares worth about $14.2 million.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, while revenue came in slightly below estimates at $6.23 billion; revenue still rose 3.5% year over year.
• The company raised its dividend to $0.945 per share quarterly, and Wall Street remains largely bullish with a consensus rating of Moderate Buy and an average price target of $255.67.

F m Investments LLC lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,533 shares of the business services provider's stock after acquiring an additional 11,197 shares during the quarter. F m Investments LLC's holdings in Waste Management were worth $14,179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock worth $29,000 after acquiring an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Waste Management in the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new position in shares of Waste Management in the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Oppenheimer upped their price objective on Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Weiss Ratings raised Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. JPMorgan Chase & Co. upped their price objective on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. UBS Group raised Waste Management from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $225.00 to $260.00 in a report on Friday, January 9th. Finally, Citigroup reduced their price objective on Waste Management from $270.00 to $263.00 and set a "buy" rating on the stock in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $255.67.

Waste Management Stock Down 2.8%

Waste Management stock opened at $215.18 on Friday. The company's 50 day simple moving average is $231.84 and its 200 day simple moving average is $222.91. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm has a market capitalization of $86.41 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.32 and a beta of 0.49. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, March 13th. This is a boost from Waste Management's previous quarterly dividend of $0.83. Waste Management's dividend payout ratio (DPR) is 54.70%.

Insider Buying and Selling at Waste Management

In related news, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $245.27, for a total transaction of $29,677.67. Following the sale, the senior vice president owned 9,293 shares of the company's stock, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 17,251 shares of the firm's stock in a transaction 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. The trade was a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,959 shares of company stock worth $21,698,005 in the last three months. 0.18% of the stock is owned by 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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