MassMutual Private Wealth & Trust FSB decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,815 shares of the business services provider's stock after selling 1,594 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Waste Management were worth $12,227,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Waste Management by 32.3% during the fourth quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider's stock worth $1,529,000 after buying an additional 1,798 shares during the last quarter. Banque Pictet & Cie SA lifted its position in Waste Management by 0.6% in the fourth quarter. Banque Pictet & Cie SA now owns 1,869,190 shares of the business services provider's stock valued at $377,184,000 after purchasing an additional 11,940 shares during the period. Foster Group Inc. acquired a new stake in Waste Management in the fourth quarter valued at about $256,000. Allspring Global Investments Holdings LLC lifted its position in shares of Waste Management by 3.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,890 shares of the business services provider's stock valued at $55,929,000 after acquiring an additional 8,914 shares during the period. Finally, Brighton Jones LLC lifted its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on WM shares. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. Royal Bank of Canada lifted their price objective on Waste Management from $227.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $247.06.
Read Our Latest Analysis on Waste Management
Waste Management Stock Down 0.4%
NYSE WM traded down $1.07 during trading hours on Monday, hitting $239.90. The company had a trading volume of 612,496 shares, compared to its average volume of 1,645,839. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $241.68. The company has a market capitalization of $96.54 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.71 and a beta of 0.67. 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's 50 day moving average is $230.41 and its 200 day moving average is $222.78.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.
Waste Management Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.38%. Waste Management's payout ratio is 49.77%.
Insider Transactions at Waste Management
In other Waste Management news, SVP Tara J. Hemmer sold 3,094 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $228.11, for a total value of $705,772.34. Following the transaction, the senior vice president now owns 53,663 shares of the company's stock, valued at $12,241,066.93. This trade represents a 5.45% 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 4,126 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $228.11, for a total transaction of $941,181.86. Following the transaction, the chief financial officer now directly owns 62,639 shares of the company's stock, valued at approximately $14,288,582.29. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,733 shares of company stock valued at $20,486,243. Insiders own 0.18% of the company's stock.
About Waste Management
(
Free Report)
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.
Further Reading
Before you consider Waste Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Management wasn't on the list.
While Waste Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
