SVB Wealth LLC trimmed its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 18.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,898 shares of the business services provider’s stock after selling 4,891 shares during the period. SVB Wealth LLC’s holdings in Waste Management were worth $4,811,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC acquired a new position in Waste Management during the third quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new position in Waste Management during the fourth quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC bought a new stake in Waste Management in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on WM. Oppenheimer lifted their target price on Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Robert W. Baird increased their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Barclays lifted their target price on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, TD Cowen raised their price objective on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.67.
Waste Management Price Performance
NYSE:WM opened at $215.18 on Monday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 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’s 50-day simple moving average is $231.84 and its 200 day simple moving average is $222.91. The firm has a market cap of $86.41 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 2.25 and a beta of 0.49.
Waste Management (NYSE:WM – Get Free Report) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.
Waste Management Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.945 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, March 13th. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. Waste Management’s dividend payout ratio is 54.70%.
Insider Transactions at Waste Management
In related news, COO John J. Morris sold 7,979 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $24,177,625.92. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald J. Smith sold 12,194 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the sale, the vice president owned 6,024 shares in the company, valued at $1,406,483.52. The trade was a 66.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 61,569 shares of company stock worth $14,697,365. Corporate insiders own 0.18% 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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