Natixis Advisors LLC Raises Stake in Waste Management, Inc. $WM

Key Points

• Natixis Advisors LLC increased its Waste Management stake by 22.4% in Q4, buying 129,124 more shares and bringing its total holding to 704,977 shares worth about $154.9 million.
• Waste Management reported better-than-expected earnings for the latest quarter, posting EPS of $1.81 versus estimates of $1.75, while revenue rose 3.5% year over year to $6.23 billion.
• The company also announced a quarterly dividend of $0.945 per share, payable June 18, which annualizes to $3.78 per share and a 1.8% yield.

Natixis Advisors LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 22.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 704,977 shares of the business services provider's stock after purchasing an additional 129,124 shares during the period. Natixis Advisors LLC owned approximately 0.17% of Waste Management worth $154,890,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Elevated Capital Advisors LLC purchased a new position in Waste Management during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC raised its holdings in Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock worth $29,000 after purchasing an additional 67 shares in the last quarter. RHL Group LLC purchased a new position in Waste Management during the fourth quarter worth about $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management in the third quarter valued at about $30,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Waste Management in the fourth quarter valued at about $31,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Waste Management stock opened at $212.56 on Tuesday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a 50 day moving average price of $224.39 and a 200 day moving average price of $224.27. The company has a market cap of $85.36 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 2.21 and a beta of 0.45. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93.

Waste Management (NYSE:WM - Get Free Report) last released its 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 net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. Waste Management's revenue was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management's payout ratio is presently 54.70%.

Insider Buying and Selling

In related news, SVP Johnson Varkey sold 121 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president directly owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John J. Morris sold 4,211 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the completion of the sale, the chief operating officer owned 99,929 shares of the company's stock, valued at approximately $24,320,720.02. The trade was a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,494 shares of company stock valued at $3,054,863. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WM. JPMorgan Chase & Co. raised their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Royal Bank Of Canada raised their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Barclays raised their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Weiss Ratings restated a "buy (b)" rating on shares of Waste Management in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company cut their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. One 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's stock. According to MarketBeat, Waste Management has an average rating of "Moderate Buy" and a consensus price target of $255.67.

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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