Waste Management, Inc. (NYSE:WM) Shares Purchased by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co increased its stake in Waste Management, Inc. by 23.6% during the first quarter, bringing its total holdings to 9,038 shares valued at approximately $2.09 million.
• Wall Street analysts are optimistic about Waste Management, with a consensus rating of "Moderate Buy" and an average price target of $254.35, as several firms have recently upgraded their ratings.
• Waste Management recently announced a quarterly dividend of $0.825 per share, equating to an annualized dividend of $3.30 and a yield of 1.4%.

Fayez Sarofim & Co grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 23.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,038 shares of the business services provider's stock after buying an additional 1,726 shares during the quarter. Fayez Sarofim & Co's holdings in Waste Management were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC boosted its holdings in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. Transce3nd LLC purchased a new position in Waste Management in the fourth quarter valued at $28,000. New Age Alpha Advisors LLC purchased a new position in Waste Management in the first quarter valued at $45,000. Finally, Adalta Capital Management LLC purchased a new position in Waste Management in the fourth quarter valued at $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WM shares. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Citigroup lifted their target price on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Insider Activity

In related news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Shares of Waste Management stock traded up $1.89 on Friday, hitting $235.11. The stock had a trading volume of 1,088,435 shares, compared to its average volume of 1,562,063. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market cap of $94.71 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 2.88 and a beta of 0.64. The company's 50 day moving average price is $230.87 and its 200 day moving average price is $228.96.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $1.82 EPS. The business's quarterly revenue was up 19.0% on a year-over-year basis. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, June 6th. Waste Management's payout ratio is 48.96%.

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.