Russell Investments Group Ltd. Purchases 5,246 Shares of Waste Management, Inc. $WM

Key Points

• Russell Investments raised its stake in Waste Management by 5,246 shares (a 1.2% increase), bringing its holding to 455,762 shares worth about $100.6 million (roughly 0.11% of the company).
• Waste Management increased its quarterly dividend to $0.945 from $0.83 (annualized $3.78), payable March 27 with a record date of March 13, implying a yield of about 1.5%.
• The company slightly missed quarterly expectations with EPS of $1.93 versus $1.95 and revenue of $6.31 billion versus $6.39 billion (revenue up 7.1% year-over-year), while analysts maintain a consensus "Moderate Buy" rating and an average target of $253.55.

Russell Investments Group Ltd. raised its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 455,762 shares of the business services provider's stock after acquiring an additional 5,246 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Waste Management worth $100,625,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WM. Cornerstone Planning Group LLC grew its position in shares of 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. Loomis Sayles & Co. L P bought a new position in Waste Management in the 2nd quarter worth approximately $40,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Waste Management during the 3rd quarter valued at approximately $41,000. Costello Asset Management INC purchased a new position in shares of Waste Management in the third quarter worth $49,000. Finally, Halbert Hargrove Global Advisors LLC boosted its position in shares of Waste Management by 47.0% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 244 shares of the business services provider's stock worth $54,000 after acquiring an additional 78 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WM shares. Weiss Ratings upgraded shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. DZ Bank initiated coverage on Waste Management in a research note on Tuesday, November 25th. They set a "buy" rating and a $250.00 price target for the company. TD Cowen upped their price objective on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Oppenheimer raised their target price on shares of Waste Management from $263.00 to $264.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada increased their price objective on shares of Waste Management from $223.00 to $235.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $253.55.

Waste Management Stock Performance

Waste Management stock opened at $246.66 on Tuesday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $99.49 billion, a PE ratio of 36.81, a P/E/G ratio of 2.60 and a beta of 0.57. The company has a 50 day moving average price of $228.43 and a 200-day moving average price of $219.99. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.70 EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.945 per share. This is an increase from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, March 13th. Waste Management's payout ratio is 49.25%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Johnson Varkey sold 617 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $244.13, for a total transaction of $150,628.21. Following the transaction, the senior vice president owned 9,607 shares of the company's stock, valued at approximately $2,345,356.91. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of the business's stock in a transaction dated 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 sale, the vice president owned 6,024 shares of the company's stock, valued at approximately $1,406,483.52. This represents a 66.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,527 shares of company stock valued at $21,940,327 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

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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