Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $7.23 Million in Waste Management, Inc. $WM

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Waste Management during the fourth quarter, purchasing 32,925 shares worth about $7.23 million.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, topping estimates by $0.06, while revenue rose 3.5% year over year to $6.23 billion.
• The company declared a quarterly dividend of $0.945 per share, which equals $3.78 annually and a yield of about 1.7%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,925 shares of the business services provider's stock, valued at approximately $7,234,000.

Other institutional investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management in the fourth quarter worth $25,000. Cornerstone Planning Group LLC grew its position in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Waste Management in the third quarter valued at $30,000. Kelleher Financial Advisors purchased a new stake in shares of Waste Management in the fourth quarter valued at $31,000. Finally, Holos Integrated Wealth LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

WM stock opened at $222.10 on Wednesday. The stock has a 50-day moving average price of $228.26 and a two-hundred day moving average price of $223.29. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $89.19 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 2.33 and a beta of 0.49.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management's payout ratio is currently 54.70%.

Insider Buying and Selling

In other Waste Management news, SVP Tara J. Hemmer sold 4,818 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the transaction, the senior vice president owned 78,918 shares in the company, valued at $19,084,739.94. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the business's stock in a transaction dated 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 transaction, the vice president owned 44,146 shares in the company, valued at approximately $10,674,944.26. This represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 35,296 shares of company stock worth $8,569,283. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

WM has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Wolfe Research assumed coverage on Waste Management in a research report on Friday, March 13th. They issued a "peer perform" rating for the company. Stifel Nicolaus boosted their price target on Waste Management from $236.00 to $252.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Finally, Barclays boosted their price target on Waste Management from $266.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.67.

Waste Management 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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