Waste Management, Inc. (NYSE:WM) Shares Sold by Tobam

Tobam lessened its position in Waste Management, Inc. (NYSE:WM - Free Report) by 73.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,988 shares of the business services provider's stock after selling 8,200 shares during the quarter. Tobam's holdings in Waste Management were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $33,000. Hurley Capital LLC purchased a new position in Waste Management in the 4th quarter valued at approximately $34,000. Sierra Ocean LLC acquired a new position in shares of Waste Management in the fourth quarter worth $36,000. Finally, Fairway Wealth LLC increased its position in shares of Waste Management by 87.6% during the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock worth $40,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM stock traded down $1.05 during trading hours on Friday, hitting $236.10. The stock had a trading volume of 1,414,057 shares, compared to its average volume of 1,621,764. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The firm has a market capitalization of $95.01 billion, a PE ratio of 34.72, a PEG ratio of 2.71 and a beta of 0.66. The stock's 50 day moving average is $231.75 and its 200 day moving average is $223.77. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same period last year, the firm posted $1.75 EPS. Waste Management's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.40%. Waste Management's payout ratio is 49.77%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Royal Bank of Canada upped their target price on shares of Waste Management from $227.00 to $229.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, April 29th. Finally, Scotiabank increased their price objective on shares of Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $248.00.

Insider Activity

In related news, SVP Rafael Carrasco sold 674 shares of the company'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 transaction, the senior vice president now owns 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now owns 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

About Waste Management

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.