Pinnacle Associates Ltd. grew its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,534 shares of the business services provider’s stock after purchasing an additional 2,850 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Waste Management were worth $16,596,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new position in shares of Waste Management during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in shares of 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 buying an additional 67 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Waste Management during the third quarter worth about $30,000. Kelleher Financial Advisors purchased a new position in shares of Waste Management during the fourth quarter worth about $31,000. Finally, Holos Integrated Wealth LLC purchased a new position in shares of Waste Management during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on WM. Scotiabank reissued a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Robert W. Baird raised their price target on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Wells Fargo & Company lowered their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Wolfe Research assumed coverage on Waste Management in a report on Friday, March 13th. They set a “peer perform” rating on the stock. Finally, Citigroup lowered their price objective on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.67.
Waste Management Price Performance
WM stock opened at $216.20 on Thursday. The firm has a 50 day moving average of $230.19 and a 200-day moving average of $222.91. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $86.82 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 2.28 and a beta of 0.49.
Waste Management (NYSE:WM – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the previous year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.
Waste Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.
Insider Activity
In related news, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction that occurred on 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 completion of the transaction, the vice president directly owned 6,024 shares in the company, valued at $1,406,483.52. The trade was a 66.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the transaction, the vice president owned 44,146 shares of the company’s stock, valued at $10,674,944.26. This represents a 28.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 54,842 shares of company stock worth $13,140,382. 0.18% of the stock is owned by corporate insiders.
Waste Management 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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