Waste Management (NYSE:WM) COO Sells $1,955,413.53 in Stock

Key Points

• Waste Management COO John Morris sold 7,979 shares at an average price of $245.07 on March 6, totaling $1,955,413.53 and reducing his stake by 7.48 to 98,656 shares (≈$24.18M).
• Waste Management raised its quarterly dividend to $0.945 (up from $0.83), an annualized $3.78 with a 1.5% yield; the dividend is payable March 27 to holders of record on March 13 (ex-dividend March 13).
• The company slightly missed quarterly estimates with $1.93 EPS vs. $1.95 expected and $6.31B revenue vs. $6.39B expected, while analysts maintain a consensus "Moderate Buy" and a $253.55 average price target; market cap is about $99.1B with a P/E of 36.66.

Waste Management, Inc. (NYSE:WM - Get Free Report) COO John Morris sold 7,979 shares of Waste Management stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total transaction 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. This trade represents a 7.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Waste Management Trading Down 0.2%

Shares of NYSE WM traded down $0.45 during midday trading on Monday, hitting $245.60. The stock had a trading volume of 514,336 shares, compared to its average volume of 2,338,039. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a market capitalization of $99.06 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.60 and a beta of 0.57. The company has a fifty day moving average price of $227.95 and a 200 day moving average price of $219.87.

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 for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. During the same period last year, the firm earned $1.70 earnings per share. The company's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.5%. This is a boost from Waste Management's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 13th. Waste Management's dividend payout ratio is 49.25%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WM. TD Cowen increased their target price on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Sanford C. Bernstein upped their price target on Waste Management from $255.00 to $260.00 and gave the stock an "outperform" rating in a report on Monday, January 5th. Scotiabank reiterated a "sector perform" rating and set a $250.00 price objective (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. DZ Bank initiated coverage on shares of Waste Management in a research note on Tuesday, November 25th. They issued a "buy" rating and a $250.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Waste Management from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Waste Management has an average rating of "Moderate Buy" and a consensus price target of $253.55.

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently modified their holdings of WM. Elevated Capital Advisors LLC bought a new stake in Waste Management in the fourth quarter valued at about $25,000. Financial Network Wealth Advisors LLC grew its position in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after acquiring an additional 47 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of 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. RHL Group LLC bought a new position in Waste Management during the fourth quarter worth $29,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Waste Management during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 80.40% of the company's stock.

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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