Shelter Rock Management LLC Makes New Investment in Waste Management, Inc. $WM

Key Points

• Shelter Rock Management LLC opened a new position in Waste Management in the fourth quarter, buying 18,682 shares valued at about $4.1 million. The stake represents roughly 4.1% of its portfolio and is its 12th-largest holding.
• 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 raised investor interest with a quarterly dividend of $0.945 per share.
• Analysts remain constructive on WM, with a consensus rating of Moderate Buy and an average price target of $255.67. Several firms recently lifted targets, though shares were trading around $218.09 at the time of the report.

Shelter Rock Management LLC bought a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,682 shares of the business services provider's stock, valued at approximately $4,105,000. Waste Management makes up about 4.1% of Shelter Rock Management LLC's portfolio, making the stock its 12th largest holding.

Other large investors have also modified their holdings of the company. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth $25,000. Cornerstone Planning Group LLC boosted its holdings in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC bought a new stake in Waste Management in the 3rd quarter valued at $30,000. Kelleher Financial Advisors bought a new stake in Waste Management in the 4th quarter valued at $31,000. Finally, Holos Integrated Wealth LLC bought a new stake in Waste Management in the 4th quarter valued at $40,000. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on WM shares. Oppenheimer increased their price target 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. Weiss Ratings raised shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Stifel Nicolaus increased their price target on shares of Waste Management from $236.00 to $252.00 and gave the company a "buy" rating in a report on Friday, January 30th. Robert W. Baird increased their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada increased their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.67.

Waste Management Trading Up 0.2%

Shares of WM stock opened at $218.09 on Friday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The stock has a market cap of $87.58 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 2.28 and a beta of 0.49. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a fifty day moving average of $227.00 and a 200-day moving average of $223.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The business's revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management's dividend payout ratio (DPR) is 54.70%.

Insider Activity

In related news, COO John J. Morris sold 4,211 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the completion of the sale, the chief operating officer owned 99,929 shares in the company, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the sale, the vice president owned 44,146 shares of the company's stock, valued at $10,674,944.26. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 35,296 shares of company stock worth $8,569,283. Company insiders own 0.18% of the company's stock.

Waste Management Company 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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