Willis Investment Counsel Takes Position in Waste Management, Inc. $WM

Key Points

• Willis Investment Counsel opened a new position in Waste Management in Q4, buying 69,021 shares valued at about $15.17 million according to the firm's latest 13F filing.
• Corporate insiders were net sellers last quarter — including VP Donald J. Smith and COO John J. Morris — with insiders selling a total of 98,042 shares worth roughly $23.04 million, leaving insiders with just 0.18% ownership.
• Waste Management raised its quarterly dividend to $0.945 (annualized $3.78, ~1.6% yield), and Wall Street sentiment is generally positive with a consensus rating of "Moderate Buy" and an average target price of about $254.59.

Willis Investment Counsel purchased a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 69,021 shares of the business services provider's stock, valued at approximately $15,165,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Vontobel Holding Ltd. increased its stake in shares of Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider's stock valued at $487,157,000 after buying an additional 1,800,728 shares during the period. Capital International Investors increased its stake in shares of Waste Management by 218.3% in the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider's stock valued at $302,494,000 after buying an additional 939,455 shares during the period. Holocene Advisors LP increased its stake in shares of Waste Management by 163.7% in the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider's stock valued at $309,317,000 after buying an additional 869,453 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Waste Management by 982.3% in the third quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider's stock valued at $195,692,000 after buying an additional 804,285 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Waste Management by 2.1% in the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider's stock valued at $8,487,924,000 after buying an additional 774,255 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Insiders Place Their Bets

In other Waste Management news, VP Donald J. Smith sold 12,194 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the transaction, the vice president owned 6,024 shares in the company, valued at approximately $1,406,483.52. This represents a 66.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John J. Morris sold 7,979 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $245.07, for a total value of $1,955,413.53. Following the completion of the transaction, the chief operating officer owned 98,656 shares in the company, valued at approximately $24,177,625.92. The trade was a 7.48% 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. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Down 0.8%

Shares of NYSE:WM opened at $231.56 on Thursday. The business's 50 day simple moving average is $232.85 and its two-hundred day simple moving average is $221.67. The firm has a market cap of $93.30 billion, a P/E ratio of 34.56, a PEG ratio of 2.49 and a beta of 0.54. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 EPS. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a $0.945 dividend. The ex-dividend date was Friday, March 13th. This is an increase from Waste Management's previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management's dividend payout ratio is currently 56.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WM. UBS Group raised Waste Management from a "neutral" rating to a "buy" rating and raised their target price for the stock from $225.00 to $260.00 in a research note on Friday, January 9th. Wolfe Research began coverage on Waste Management in a research note on Friday, March 13th. They set a "peer perform" rating for the company. Scotiabank reaffirmed a "sector perform" rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. TD Cowen raised their target price on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company raised their target price on Waste Management from $250.00 to $273.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $254.59.

Waste Management Company 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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