Pictet Asset Management Holding SA Decreases Stock Holdings in Waste Management, Inc. $WM

Key Points

• Pictet Asset Management trimmed its stake in Waste Management by 8.7% in Q4, selling 234,302 shares and leaving it with 2,451,370 shares (0.61% ownership) valued at about $538.6 million.
• Company insiders have been net sellers: CEO James C. Fish, Jr. sold 30,390 shares (~$7.0M) and VP Donald J. Smith sold 12,194 shares (~$2.85M), with insiders offloading 98,042 shares worth $23.04M over the past three months.
• Waste Management raised its quarterly dividend to $0.945 (annualized $3.78, 1.6% yield), and analysts carry a consensus "Moderate Buy" with an average price target of $255.19.

Pictet Asset Management Holding SA lessened its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,451,370 shares of the business services provider's stock after selling 234,302 shares during the period. Pictet Asset Management Holding SA owned 0.61% of Waste Management worth $538,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought 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% during 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 bought a new position in shares of Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors purchased a new stake in Waste Management during the fourth quarter valued at approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new stake in Waste Management in the fourth quarter valued at approximately $40,000. 80.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Waste Management

In other news, VP Donald J. Smith sold 12,194 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the transaction, the vice president owned 6,024 shares of the company's stock, valued at $1,406,483.52. The trade was a 66.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James C. Fish, Jr. sold 30,390 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $230.36, for a total value of $7,000,640.40. Following the sale, the chief executive officer directly owned 225,793 shares in the company, valued at approximately $52,013,675.48. This trade represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 98,042 shares of company stock worth $23,039,777. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Wells Fargo & Company boosted their target price on Waste Management from $250.00 to $273.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 18th. Wolfe Research assumed coverage on Waste Management in a research report on Friday, March 13th. They set a "peer perform" rating on the stock. Citigroup decreased their price target on Waste Management from $270.00 to $263.00 and set a "buy" rating for the company in a research note on Friday, January 16th. Finally, Stifel Nicolaus raised their price target on Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, January 30th. 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 stock. According to MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $255.19.

Waste Management Stock Performance

Shares of NYSE WM opened at $229.64 on Monday. The company has a 50 day simple moving average of $232.69 and a two-hundred day simple moving average of $222.42. The stock has a market cap of $92.53 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.43 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.945 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $3.78 annualized dividend and a yield of 1.6%. This is an increase from Waste Management's previous quarterly dividend of $0.83. Waste Management's payout ratio is 56.42%.

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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