Guardian Capital LLC Purchases New Position in Waste Management, Inc. $WM

Key Points

• Guardian Capital LLC opened a new position in Waste Management during the fourth quarter, buying 10,618 shares worth about $2.33 million. The stake represents roughly 2.1% of Guardian Capital’s portfolio.
• Waste Management reported better-than-expected earnings for the latest quarter, posting $1.81 EPS versus the $1.75 estimate. Revenue came in slightly below forecasts at $6.23 billion, though it still rose 3.5% year over year.
• The company announced a quarterly dividend of $0.945 per share, payable June 18, which works out to an annualized dividend of $3.78 and a yield of about 1.7%. Meanwhile, analysts currently rate WM a Moderate Buy with a consensus target price of $255.67.

Guardian Capital LLC purchased a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 10,618 shares of the business services provider's stock, valued at approximately $2,333,000. Waste Management accounts for approximately 2.1% of Guardian Capital LLC's portfolio, making the stock its 14th largest position.

A number of other hedge funds have also modified their holdings of WM. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position 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 valued at $29,000 after acquiring an additional 67 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Waste Management in the 3rd quarter valued at approximately $30,000. Kelleher Financial Advisors acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $40,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM opened at $219.84 on Friday. The stock has a market capitalization of $88.28 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.30 and a beta of 0.49. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The company has a 50 day moving average of $229.21 and a 200-day moving average of $222.92. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

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

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.945 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management's dividend payout ratio (DPR) is currently 54.70%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 17,251 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company's stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald J. Smith sold 12,194 shares of the firm's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the completion of the transaction, the vice president directly owned 6,024 shares of the company's stock, valued at $1,406,483.52. This represents a 66.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 47,490 shares of company stock valued at $11,416,338 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on WM. Wells Fargo & Company dropped their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Royal Bank Of Canada raised their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Finally, Scotiabank restated a "sector perform" rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Management 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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