Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 3.1% during the fourth quarter, Holdings Channel reports. The fund owned 86,212 shares of the business services provider’s stock after selling 2,783 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Waste Management were worth $18,942,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in WM. Elevated Capital Advisors LLC bought a new position in Waste Management during the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its position in Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. RHL Group LLC bought a new position in Waste Management during the 4th quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the 3rd quarter valued at approximately $30,000. Finally, Kelleher Financial Advisors bought a new position in Waste Management during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Analyst Ratings Changes
WM has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research report on Wednesday. Wolfe Research initiated coverage on Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating for the company. TD Cowen increased their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Robert W. Baird increased their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.67.
Insiders Place Their Bets
In other news, SVP Johnson Varkey sold 617 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $244.13, for a total value of $150,628.21. Following the transaction, the senior vice president directly owned 9,607 shares in the company, valued at $2,345,356.91. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John J. Morris sold 7,979 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $24,177,625.92. This trade represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,111 shares of company stock worth $3,205,492. Company insiders own 0.18% of the company’s stock.
Waste Management Stock Performance
Shares of WM opened at $211.32 on Monday. The business’s fifty day simple moving average is $224.81 and its two-hundred day simple moving average is $224.20. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a market cap of $84.86 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 2.21 and a beta of 0.45.
Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating 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 business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the business posted $1.67 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate 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 paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is 54.70%.
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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