Intech Investment Management LLC Has $7.14 Million Stock Position in Waste Management, Inc. $WM

Key Points

• Intech Investment Management increased its Waste Management stake by 40.6% in the fourth quarter, ending with 32,517 shares valued at about $7.14 million.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, though revenue of $6.23 billion came in slightly below estimates. Analysts now expect full-year EPS of 8.15.
• The company declared a quarterly dividend of $0.945 per share payable June 18, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $255.67.

Intech Investment Management LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 40.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,517 shares of the business services provider's stock after buying an additional 9,389 shares during the period. Intech Investment Management LLC's holdings in Waste Management were worth $7,144,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC raised its stake 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 purchasing an additional 67 shares during the period. RHL Group LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management in the 3rd quarter valued at about $30,000. Finally, Kelleher Financial Advisors bought a new position in shares of Waste Management in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Down 1.4%

Waste Management stock opened at $211.32 on Friday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market capitalization of $84.86 billion, a P/E ratio of 30.58, a PEG ratio of 2.21 and a beta of 0.49. The stock has a 50-day simple moving average of $224.81 and a 200 day simple moving average of $224.04.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping 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 business had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter last year, the company posted $1.67 earnings per share. Waste Management's quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

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 given a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.8%. Waste Management's dividend payout ratio (DPR) is 54.70%.

Insider Activity at Waste Management

In other news, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the sale, the chief operating officer directly owned 99,929 shares in the company, valued at approximately $24,320,720.02. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tara J. Hemmer sold 4,818 shares of Waste Management stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the completion of the sale, the senior vice president owned 78,918 shares of the company's stock, valued at approximately $19,084,739.94. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 35,222 shares of company stock valued at $8,552,294. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays raised their price objective on Waste Management from $266.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. TD Cowen raised their price objective on Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Royal Bank Of Canada raised their price objective on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Finally, Robert W. Baird raised their price objective on Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and an average 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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