SVB Wealth LLC Has $4.81 Million Stock Position in Waste Management, Inc. $WM

Key Points

• SVB Wealth LLC trimmed its Waste Management stake by 18.3% in the fourth quarter, leaving it with 21,898 shares valued at about $4.81 million.
• Several other institutional investors recently adjusted positions in WM, while institutions and hedge funds still hold a large 80.40% ownership of the company.
• Waste Management reported better-than-expected quarterly EPS of $1.81, and it recently raised its dividend to $0.945 per share quarterly, boosting the annualized yield to 1.8%.

SVB Wealth LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,898 shares of the business services provider's stock after selling 4,891 shares during the quarter. SVB Wealth LLC's holdings in Waste Management were worth $4,811,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WM. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its holdings in Waste Management by 101.5% in the third 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 last quarter. JPL Wealth Management LLC bought a new stake in Waste Management in the third quarter valued at about $30,000. Kelleher Financial Advisors acquired a new position in Waste Management in the fourth quarter valued at about $31,000. Finally, Holos Integrated Wealth LLC bought a new position in Waste Management during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 17,251 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value 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. The trade was a 28.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John J. Morris sold 4,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the transaction, the chief operating officer owned 99,929 shares of the company's stock, valued at $24,320,720.02. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,569 shares of company stock valued at $14,697,365 over the last ninety days. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They issued a "peer perform" rating for the company. Scotiabank restated a "sector perform" rating and set a $250.00 price objective (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada upped 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 report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.67.

Waste Management Price Performance

Shares of NYSE WM opened at $215.18 on Monday. The company has a fifty day moving average price of $231.84 and a 200 day moving average price of $222.91. The firm has a market cap of $86.41 billion, a PE ratio of 31.14, a PEG ratio of 2.25 and a beta of 0.49. 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.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. Research analysts predict that Waste Management, Inc. will post 8.15 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. Shareholders of record on Friday, March 13th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, March 13th. This is a positive change from Waste Management's previous quarterly dividend of $0.83. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

Waste Management 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.