Capital World Investors cut its position in Waste Management, Inc. (NYSE:WM - Free Report) by 78.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,397 shares of the business services provider's stock after selling 1,694,864 shares during the quarter. Capital World Investors owned about 0.11% of Waste Management worth $92,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of WM. Norges Bank purchased a new stake in Waste Management in the 4th quarter worth approximately $1,009,726,000. Raymond James Financial Inc. purchased a new stake in shares of Waste Management during the 4th quarter valued at $340,611,000. Parnassus Investments LLC raised its position in shares of Waste Management by 22.5% during the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after buying an additional 1,151,237 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after buying an additional 538,567 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Waste Management by 780.8% during the 4th quarter. Marshall Wace LLP now owns 560,600 shares of the business services provider's stock valued at $113,123,000 after buying an additional 496,952 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
WM has been the topic of several research reports. William Blair restated an "outperform" rating on shares of Waste Management in a research report on Friday, January 31st. Morgan Stanley raised their price objective on shares of Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Oppenheimer lifted their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. UBS Group upped their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Jefferies Financial Group lowered their target price on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $239.28.
View Our Latest Report on Waste Management
Insider Activity
In other Waste Management news, CAO John A. Carroll sold 1,251 shares of Waste Management stock in a transaction on Friday, March 7th. The stock was sold at an average price of $225.92, for a total transaction of $282,625.92. Following the completion of the transaction, the chief accounting officer now owns 8,420 shares in the company, valued at approximately $1,902,246.40. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the transaction, the senior vice president now owns 8,491 shares of the company's stock, valued at $1,995,045.36. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 in the last quarter. 0.18% of the stock is owned by company insiders.
Waste Management Trading Up 0.4 %
NYSE WM traded up $0.81 on Friday, hitting $228.28. The company's stock had a trading volume of 2,115,581 shares, compared to its average volume of 1,645,509. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $239.32. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The company's 50-day simple moving average is $227.95 and its 200 day simple moving average is $219.78. The firm has a market cap of $91.84 billion, a P/E ratio of 33.57, a PEG ratio of 2.71 and a beta of 0.66.
Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.
Waste Management Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio (DPR) is presently 48.53%.
About Waste Management
(
Free Report)
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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