Waste Management, Inc. $WM Shares Acquired by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. boosted its stake in Waste Management by 162.6% in the fourth quarter, ending with 30,139 shares valued at about $6.62 million.
• Waste Management shares were down 1.1% at $215.42, leaving the company with a market value of $86.51 billion and a dividend yield of about 1.8%.
• The company recently reported better-than-expected earnings of $1.81 per share, while analysts currently maintain a Moderate Buy consensus with a target price of $255.67.

Harbour Investments Inc. increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 162.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,139 shares of the business services provider's stock after acquiring an additional 18,662 shares during the quarter. Harbour Investments Inc.'s holdings in Waste Management were worth $6,622,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WM. Brighton Jones LLC boosted its holdings 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 worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new stake in shares of Waste Management in the first quarter valued at approximately $325,000. Sei Investments Co. lifted its position in Waste Management by 8.0% during the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider's stock worth $62,339,000 after buying an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider's stock worth $83,843,000 after buying an additional 148,590 shares during the last quarter. Finally, Glenview Trust co grew its holdings in Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider's stock valued at $764,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 1.1%

Shares of NYSE:WM opened at $215.42 on Wednesday. The company has a market capitalization of $86.51 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 2.28 and a beta of 0.49. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The business has a 50-day moving average price of $226.12 and a 200 day moving average price of $223.92. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm posted $1.67 earnings per share. Waste Management's revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. TD Cowen upped their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Wolfe Research assumed coverage on shares of Waste Management in a research note on Friday, March 13th. They set a "peer perform" rating on the stock. Barclays boosted their target price on shares of Waste Management from $266.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Oppenheimer raised their price target on shares of Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.67.

Insider Activity at Waste Management

In other Waste Management 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 sale, the senior vice president owned 9,293 shares of the company's stock, valued at $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 available through this link. Also, COO John J. Morris sold 4,211 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the transaction, the chief operating officer owned 99,929 shares in the company, valued at $24,320,720.02. This trade represents a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,296 shares of company stock worth $8,569,283 over the last quarter. Company 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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