Insider Selling: Waste Management (NYSE:WM) SVP Sells 500 Shares of Company Stock

Key Points

• Waste Management SVP Johnson Varkey sold 500 shares for $121,000 at an average price of $242 per share, reducing his holdings by 5.43% to 8,713 shares.
• Quarterly revenue rose 6.3% year over year to $6.85 billion, beating estimates, while earnings of $2.15 per share fell just short of the $2.18 consensus.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $257.04; the company’s annualized dividend is $3.78 per share, yielding 1.6%.

Waste Management, Inc. (NYSE:WM - Get Free Report) SVP Johnson Varkey sold 500 shares of Waste Management stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $242.00, for a total transaction of $121,000.00. Following the completion of the transaction, the senior vice president owned 8,713 shares of the company's stock, valued at $2,108,546. The trade was a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Waste Management Stock Performance

Shares of WM stock opened at $236.50 on Monday. The stock has a market capitalization of $94.04 billion, a P/E ratio of 31.04, a PEG ratio of 3.07 and a beta of 0.38. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.21. The firm's 50 day moving average is $219.40 and its 200 day moving average is $225.59. Waste Management, Inc. has a 12 month low of $197.47 and a 12 month high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.03). Waste Management had a net margin of 11.78% and a return on equity of 31.97%. The business had revenue of $6.85 billion during the quarter, compared to analysts' expectations of $6.81 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The firm's quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.05 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a $0.9450 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management's dividend payout ratio (DPR) is currently 49.61%.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently modified their holdings of the business. Phoenix Financial Ltd. grew its stake in shares of Waste Management by 19.9% in the 3rd quarter. Phoenix Financial Ltd. now owns 5,684 shares of the business services provider's stock worth $1,160,000 after buying an additional 945 shares in the last quarter. Danske Bank A S increased its holdings in shares of Waste Management by 7.4% in the 3rd quarter. Danske Bank A S now owns 709,874 shares of the business services provider's stock worth $144,758,000 after buying an additional 48,776 shares during the last quarter. BankPlus Trust Department increased its holdings in shares of Waste Management by 9.9% in the 3rd quarter. BankPlus Trust Department now owns 6,655 shares of the business services provider's stock worth $1,357,000 after buying an additional 599 shares during the last quarter. Cornerstone Advisors LLC raised its position in shares of Waste Management by 167.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 50,541 shares of the business services provider's stock valued at $10,306,000 after buying an additional 31,644 shares in the last quarter. Finally, EagleClaw Capital Managment LLC raised its position in shares of Waste Management by 1.9% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 18,624 shares of the business services provider's stock valued at $3,798,000 after buying an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

WM has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Waste Management from $265.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Oppenheimer reaffirmed an "outperform" rating and set a $263.00 price objective (down from $264.00) on shares of Waste Management in a research note on Thursday, October 29th. Royal Bank Of Canada upped their target price on shares of Waste Management from $244.00 to $247.00 and gave the stock a "sector perform" rating in a report on Thursday, October 29th. Bank of America increased their target price on shares of Waste Management from $245.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 28th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $267.00 price target (up from $263.00) on shares of Waste Management in a report on Thursday, October 29th. Eighteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and a consensus target price of $257.04.

About Waste Management

Waste Management, Inc, doing business as WM NYSE: WM, is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.

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