Mainstay Capital Management LLC ADV Has $1.92 Million Stake in Waste Management, Inc. $WM

Mainstay Capital Management LLC ADV trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 49.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,678 shares of the business services provider’s stock after selling 8,432 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Waste Management were worth $1,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cornercap Investment Counsel Inc. acquired a new position in shares of Waste Management during the 3rd quarter worth about $1,583,000. Lockheed Martin Investment Management Co. bought a new position in Waste Management during the 3rd quarter worth approximately $3,092,000. Guerra Advisors Inc boosted its stake in Waste Management by 59.5% during the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 3,371 shares during the last quarter. Compass Wealth Management LLC grew its holdings in Waste Management by 537.0% during the third 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Waste Management by 19.1% in the third 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. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Down 0.9%

Shares of WM stock opened at $233.92 on Thursday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The firm has a fifty day moving average of $230.86 and a 200-day moving average of $220.56. The company has a market capitalization of $94.35 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 2.49 and a beta of 0.57.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.70 earnings per share. As a group, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.945 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s payout ratio is currently 56.42%.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 17,251 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares in the company, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James C. Fish, Jr. sold 30,390 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $230.36, for a total value of $7,000,640.40. Following the completion of the sale, the chief executive officer owned 225,793 shares in the company, valued at $52,013,675.48. The trade was a 11.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 98,042 shares of company stock valued at $23,039,777 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WM. Stifel Nicolaus lifted their price target on shares of Waste Management from $236.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. The Goldman Sachs Group began coverage on shares of Waste Management in a research report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective for the company. Scotiabank reiterated a “sector perform” rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Oppenheimer boosted their target price on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $254.59.

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.