Mediolanum International Funds Ltd Reduces Position in Waste Management, Inc. (NYSE:WM)

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Waste Management, Inc. by 27.5%, selling 55,367 shares and holding 146,181 shares valued at approximately $33.3 million as of the latest SEC filing.
• Insider trading activity includes CFO Devina A. Rankin selling 57,888 shares at an average price of $237.36, resulting in a 40.82% decrease in her ownership stake.
• Waste Management, Inc. recently announced a quarterly dividend of $0.825 per share, representing an annual yield of 1.44%, with a dividend payout ratio of 49.77%.

Mediolanum International Funds Ltd reduced its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,181 shares of the business services provider's stock after selling 55,367 shares during the period. Mediolanum International Funds Ltd's holdings in Waste Management were worth $33,318,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Westend Capital Management LLC increased its holdings in 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 during the last quarter. Transce3nd LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $28,000. West Branch Capital LLC boosted its stake in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the period. Hurley Capital LLC acquired a new stake in Waste Management in the fourth quarter valued at about $34,000. Finally, Adalta Capital Management LLC acquired a new stake in Waste Management in the fourth quarter valued at about $40,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE WM traded down $0.82 on Wednesday, hitting $234.74. 866,553 shares of the stock were exchanged, compared to its average volume of 1,717,858. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a market capitalization of $94.46 billion, a PE ratio of 34.83, a P/E/G ratio of 2.82 and a beta of 0.64. The business's fifty day moving average is $231.77 and its 200 day moving average is $227.79. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 35.31%. Waste Management's revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 earnings per share. Research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.41%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. UBS Group lifted their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday. Scotiabank boosted their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a report on Friday, June 27th. Finally, CIBC boosted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.76.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Waste Management Profile

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.