Quintet Private Bank Europe S.A. Has $27.23 Million Holdings in Waste Management, Inc. $WM

Key Points

• Quintet Private Bank Europe S.A. cut its position in Waste Management by 11.1% in Q4, leaving it with 123,956 shares valued at $27.23 million, or 1.6% of the fund's portfolio (its 19th-largest holding).
• Insider and institutional activity: company insiders sold 98,042 shares worth about $23.04 million in the last quarter (insiders now own 0.18% of the stock), while institutional ownership is roughly 80.4%.
• Business and market view: Waste Management raised its quarterly dividend to $0.945 ($3.78 annualized, 1.6% yield), posted a slight quarterly EPS miss, and holds a consensus analyst rating of "Moderate Buy" with an average price target of $254.59.

Quintet Private Bank Europe S.A. decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,956 shares of the business services provider's stock after selling 15,436 shares during the period. Waste Management accounts for 1.6% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 19th biggest holding. Quintet Private Bank Europe S.A.'s holdings in Waste Management were worth $27,234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WM. Brighton Jones LLC grew its holdings in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new position in shares of Waste Management during the first quarter worth approximately $325,000. Fisher Asset Management LLC boosted its position in shares of Waste Management by 5.2% in the second quarter. Fisher Asset Management LLC now owns 7,684 shares of the business services provider's stock valued at $1,758,000 after acquiring an additional 382 shares during the period. CW Advisors LLC grew its stake in shares of Waste Management by 67.2% in the second quarter. CW Advisors LLC now owns 8,975 shares of the business services provider's stock worth $2,054,000 after acquiring an additional 3,608 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Waste Management by 4.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,934 shares of the business services provider's stock worth $900,000 after acquiring an additional 185 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Waste Management news, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the transaction, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the business's stock in a transaction on 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 completion of the transaction, the vice president directly 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. Insiders have sold 98,042 shares of company stock worth $23,039,777 in the last quarter. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Down 0.1%

NYSE WM opened at $235.23 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a market capitalization of $94.78 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.49 and a beta of 0.54. The stock's 50 day moving average is $232.74 and its two-hundred day moving average is $221.27. 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 (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 earnings per share. Equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.945 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. This is a boost from Waste Management's previous quarterly dividend of $0.83. Waste Management's dividend payout ratio is presently 56.42%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup decreased their price target on shares of Waste Management from $270.00 to $263.00 and set a "buy" rating on the stock in a research report on Friday, January 16th. Wolfe Research started coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a "peer perform" rating for the company. TD Cowen lifted their target price on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Weiss Ratings raised Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Finally, Oppenheimer raised their price objective on Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.59.

About Waste Management

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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