Sage Investment Advisers LLC Purchases New Shares in Waste Management, Inc. $WM

Key Points

• Sage Investment Advisers LLC initiated a new position in Waste Management, buying 7,072 shares valued at about $1.55 million. The stake now accounts for roughly 1.2% of the firm’s portfolio.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, topping estimates by $0.06, while revenue rose 3.5% year over year to $6.23 billion.
• The company also declared a quarterly dividend of $0.945 per share, equal to $3.78 annually and a yield of about 1.8%. Analysts remain broadly positive, with an average rating of Moderate Buy.

Sage Investment Advisers LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,072 shares of the business services provider's stock, valued at approximately $1,554,000. Waste Management comprises about 1.2% of Sage Investment Advisers LLC's investment portfolio, making the stock its 26th biggest holding.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after acquiring an additional 553,605 shares during the period. Geode Capital Management LLC grew its stake in shares of Waste Management by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider's stock worth $1,972,371,000 after acquiring an additional 117,476 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider's stock worth $1,250,613,000 after acquiring an additional 277,250 shares during the period. Norges Bank purchased a new stake in Waste Management during the 4th quarter worth about $1,022,916,000. Finally, Northern Trust Corp lifted its holdings in Waste Management by 0.3% during the 3rd quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock worth $873,276,000 after purchasing an additional 11,688 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE WM opened at $211.32 on Monday. The stock has a market cap of $84.86 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 2.21 and a beta of 0.45. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The stock's 50-day moving average is $224.81 and its 200 day moving average is $224.20.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same period last year, the firm posted $1.67 EPS. Waste Management's revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Insider Activity at Waste Management

In related news, COO John J. Morris sold 7,979 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the transaction, the chief operating officer directly owned 98,656 shares in the company, valued at $24,177,625.92. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Johnson Varkey sold 617 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $244.13, for a total value of $150,628.21. Following the transaction, the senior vice president owned 9,607 shares in the company, valued at approximately $2,345,356.91. The trade was a 6.03% 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 have sold 13,111 shares of company stock worth $3,205,492. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WM has been the topic of a number of recent research reports. Wolfe Research assumed coverage on Waste Management in a report on Friday, March 13th. They set a "peer perform" rating on the stock. Royal Bank Of Canada raised their price target on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Wells Fargo & Company lowered their price target on Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Finally, TD Cowen raised their price target on Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. One equities 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 data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $255.67.

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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