Waste Management, Inc. $WM Shares Sold by Advisors Capital Management LLC

Key Points

• Advisors Capital Management cut its stake in Waste Management by 20.7% in Q4, selling 8,393 shares and leaving it with 32,238 shares valued at about $7.08 million.
• Company insiders sold a total of 98,042 shares worth roughly $23.04 million in the last quarter (including sales by SVP Johnson Varkey and COO John J. Morris), with insiders now owning about 0.18% of the stock.
• Waste Management raised its quarterly dividend to $0.945 (annualized $3.78, yield ~1.6%), while several analysts have increased price targets (e.g., Wells Fargo to $273, JPMorgan to $270), leaving a consensus target of $255.19 and an average rating of "Moderate Buy."

Advisors Capital Management LLC lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,238 shares of the business services provider's stock after selling 8,393 shares during the period. Advisors Capital Management LLC's holdings in Waste Management were worth $7,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after buying an additional 553,605 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Waste Management by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider's stock valued at $1,250,613,000 after acquiring an additional 277,250 shares in the last quarter. Northern Trust Corp raised its position in Waste Management by 0.3% during the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock worth $873,276,000 after acquiring an additional 11,688 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Waste Management by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider's stock valued at $781,494,000 after purchasing an additional 236,439 shares in the last quarter. Finally, Sustainable Growth Advisers LP grew its position in shares of Waste Management by 12.6% in the third quarter. Sustainable Growth Advisers LP now owns 3,262,148 shares of the business services provider's stock valued at $720,380,000 after purchasing an additional 364,512 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $245.27, for a total transaction of $29,677.67. Following the sale, the senior vice president directly owned 9,293 shares in the company, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John J. Morris sold 4,211 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the completion of the sale, the chief operating officer directly owned 99,929 shares of the company's stock, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 98,042 shares of company stock valued at $23,039,777. Company insiders own 0.18% of the company's stock.

Waste Management Stock Up 0.0%

WM opened at $229.64 on Monday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a 50 day moving average price of $232.69 and a 200 day moving average price of $222.42. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $92.53 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.43 and a beta of 0.54.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion for the quarter, compared to analysts' expectations of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.Waste Management's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Sell-side analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $0.945 dividend. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management's dividend payout ratio (DPR) is currently 56.42%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Waste Management from $250.00 to $273.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. raised their price target on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Scotiabank reissued a "sector perform" rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Weiss Ratings raised shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. Finally, UBS Group raised shares of Waste Management from a "neutral" rating to a "buy" rating and raised their price target for the stock from $225.00 to $260.00 in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and a consensus price target of $255.19.

About Waste Management

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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