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

Key Points

• Alta Capital Management reduced its stake in Waste Management by 6.1% in the fourth quarter, selling 7,964 shares and leaving it with 122,106 shares worth about $26.8 million.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, topping estimates, while revenue rose 3.5% year over year to $6.23 billion.
• The company announced a quarterly dividend of $0.945 per share, payable June 18, which annualizes to $3.78 per share and yields about 1.7%.

Alta Capital Management LLC decreased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,106 shares of the business services provider's stock after selling 7,964 shares during the period. Waste Management makes up approximately 1.8% of Alta Capital Management LLC's investment portfolio, making the stock its 19th largest position. Alta Capital Management LLC's holdings in Waste Management were worth $26,828,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Elevated Capital Advisors LLC acquired a new stake in Waste Management in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC raised its holdings in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Up 1.3%

Waste Management stock opened at $222.78 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a 50 day moving average price of $228.75 and a 200 day moving average price of $223.12. The company has a market capitalization of $89.46 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.49.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating 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 firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management's payout ratio is 54.70%.

Analyst Ratings Changes

WM has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. Wells Fargo & Company cut their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Scotiabank restated a "sector perform" rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Weiss Ratings upgraded shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Finally, Stifel Nicolaus raised their price target on shares of Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.67.

Insider Activity at Waste Management

In related news, COO John J. Morris sold 4,211 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $243.38, for a total value 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. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction on Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the transaction, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,296 shares of company stock valued at $8,569,283 in the last ninety days. 0.18% of the stock is currently owned by insiders.

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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