Third View Private Wealth LLC Makes New $3.14 Million Investment in Waste Management, Inc. $WM

Key Points

• Third View Private Wealth LLC established a new position in Waste Management (NYSE:WM), purchasing 14,267 shares valued at about $3.14 million in Q4, within a stock that is ~80.4% owned by institutional investors.
• Waste Management slightly missed quarterly expectations with $1.93 EPS versus $1.95 consensus and $6.31B revenue below estimates, though revenue was up 7.1% year-over-year and analysts forecast roughly 7.7 EPS for the year.
• The company raised its quarterly dividend to $0.945 (annualized $3.78, ~1.6% yield), while analyst sentiment remains positive with an average rating of "Moderate Buy" and an average price target of $254.82.

Third View Private Wealth LLC purchased a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 14,267 shares of the business services provider's stock, valued at approximately $3,135,000.

A number of other institutional investors have also bought and sold shares of WM. Cornercap Investment Counsel Inc. purchased a new position in shares of Waste Management during the third quarter valued at about $1,583,000. Lockheed Martin Investment Management Co. purchased a new position in shares of Waste Management during the third quarter valued at about $3,092,000. Guerra Advisors Inc grew its position in shares of Waste Management by 59.5% during the third quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider's stock valued at $1,996,000 after purchasing an additional 3,371 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of Waste Management by 2.0% during the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider's stock valued at $43,192,000 after purchasing an additional 3,880 shares in the last quarter. Finally, Compass Wealth Management LLC grew its position in shares of Waste Management by 537.0% during the third quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider's stock valued at $21,138,000 after purchasing an additional 80,695 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Up 0.4%

WM stock opened at $230.39 on Tuesday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The firm's 50-day moving average is $233.34 and its 200 day moving average is $221.97. The company has a market capitalization of $92.82 billion, a PE ratio of 34.39, a P/E/G ratio of 2.42 and a beta of 0.54. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). The company 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%.Waste Management's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.945 dividend. The ex-dividend date was Friday, March 13th. This is a positive change from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management's dividend payout ratio (DPR) is presently 56.42%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen raised their price objective on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Scotiabank reiterated a "sector perform" rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. Stifel Nicolaus boosted their price objective on Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. UBS Group raised Waste Management from a "neutral" rating to a "buy" rating and raised their price objective for the company from $225.00 to $260.00 in a research note on Friday, January 9th. Finally, Citigroup lowered their price objective on Waste Management from $270.00 to $263.00 and set a "buy" rating for the company in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $254.82.

Insider Transactions at Waste Management

In related news, SVP Johnson Varkey sold 121 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tara J. Hemmer sold 4,818 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total value of $1,165,136.94. Following the completion of the sale, the senior vice president owned 78,918 shares of the company's stock, valued at $19,084,739.94. The trade was a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,042 shares of company stock valued at $23,039,777 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

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.

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