RWC Asset Management LLP Acquires 4,413 Shares of Waste Management, Inc. (NYSE:WM)

Key Points

• RWC Asset Management LLP has increased its holdings in Waste Management, Inc. (NYSE:WM) by 12.4%, acquiring an additional 4,413 shares during the first quarter, bringing their total to 39,888 shares valued at approximately $9.23 million.
• Insider transactions included CFO Devina A. Rankin selling 57,888 shares at an average price of $237.36, resulting in a total value of nearly $13.74 million, marking a significant decrease of 40.82% in her ownership.
• Waste Management reported earnings per share (EPS) of $1.67 for the recent quarter, exceeding estimates, while the company also announced a quarterly dividend of $0.825, with an annual yield of 1.44%.

RWC Asset Management LLP grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,888 shares of the business services provider's stock after acquiring an additional 4,413 shares during the quarter. RWC Asset Management LLP's holdings in Waste Management were worth $9,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Waste Management by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock valued at $1,654,173,000 after acquiring an additional 64,260 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Waste Management by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after acquiring an additional 224,279 shares in the last quarter. Northern Trust Corp raised its stake in Waste Management by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,996,773 shares of the business services provider's stock valued at $806,509,000 after acquiring an additional 465,789 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Waste Management by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after acquiring an additional 177,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Waste Management by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,426,067 shares of the business services provider's stock valued at $489,570,000 after purchasing an additional 170,046 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.7%

WM stock traded down $1.53 during trading on Monday, reaching $228.14. The stock had a trading volume of 1,715,875 shares, compared to its average volume of 1,493,025. Waste Management, Inc. has a one year low of $197.43 and a one year high of $242.58. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. The company's 50 day moving average is $231.74 and its two-hundred day moving average is $227.73. The company has a market capitalization of $91.80 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.84 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm's revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is currently 49.77%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WM. Raymond James Financial lifted their price target on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Melius began coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. UBS Group lifted their target price on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Citigroup lifted their target price on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.41.

Insider Buying and Selling at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.