Bessemer Group Inc. lowered its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 562,101 shares of the business services provider’s stock after selling 27,089 shares during the period. Bessemer Group Inc.’s holdings in Waste Management were worth $123,499,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of WM. Lockheed Martin Investment Management Co. purchased a new position in shares of Waste Management in the 3rd quarter valued at about $3,092,000. Guerra Advisors Inc increased its holdings in shares of Waste Management by 59.5% in the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock valued at $1,996,000 after purchasing an additional 3,371 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in shares of Waste Management by 2.0% in the 4th quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock valued at $43,192,000 after purchasing an additional 3,880 shares in the last quarter. Compass Wealth Management LLC increased its holdings in shares of Waste Management by 537.0% in the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock valued at $21,138,000 after purchasing an additional 80,695 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Waste Management by 19.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock valued at $15,301,000 after purchasing an additional 11,135 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.
Wall Street Analysts Forecast Growth
WM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Scotiabank reiterated a “sector perform” rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. TD Cowen increased their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company cut their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Stifel Nicolaus raised their target price on shares of Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.67.
Insider Buying and Selling at Waste Management
In other news, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the sale, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. The trade was a 28.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $245.27, for a total transaction of $29,677.67. Following the sale, the senior vice president owned 9,293 shares of the company’s stock, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 47,490 shares of company stock valued at $11,416,338. Corporate insiders own 0.18% of the company’s stock.
Waste Management Stock Performance
NYSE:WM opened at $219.84 on Friday. 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 firm has a 50-day moving average price of $229.21 and a two-hundred day moving average price of $222.92. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The company has a market capitalization of $88.28 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49.
Waste Management (NYSE:WM – Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm posted $1.67 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s payout ratio is 54.70%.
About Waste Management
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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