Waste Management (NYSE:WM) SVP Johnson Varkey Sells 617 Shares

Waste Management, Inc. (NYSE:WM) SVP Johnson Varkey sold 617 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $244.13, for a total transaction of $150,628.21. Following the completion of the transaction, the senior vice president directly owned 9,607 shares of the company’s stock, valued at $2,345,356.91. The trade was a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Johnson Varkey also recently made the following trade(s):

• On Friday, January 30th, Johnson Varkey sold 428 shares of Waste Management stock. The shares were sold at an average price of $219.63, for a total transaction of $94,001.64.

Waste Management Stock Performance

Shares of NYSE WM traded up $0.14 during midday trading on Wednesday, reaching $243.58. The company had a trading volume of 1,020,540 shares, compared to its average volume of 2,290,666. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $244.88. The business’s 50-day simple moving average is $226.50 and its 200 day simple moving average is $219.49. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. The stock has a market cap of $98.25 billion, a P/E ratio of 36.36, a P/E/G ratio of 2.57 and a beta of 0.57.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. Waste Management’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.70 earnings per share. On average, analysts forecast 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 paid a $0.945 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is 49.25%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Elevated Capital Advisors LLC purchased a new stake in Waste Management in the 4th quarter worth $25,000. Financial Network Wealth Advisors LLC grew its position in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Cornerstone Planning Group LLC increased its stake 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 purchasing an additional 67 shares in the last quarter. RHL Group LLC purchased a new position in Waste Management in the 4th quarter valued at about $29,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in Waste Management in the 4th quarter worth about $29,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on WM. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $260.00 in a research note on Friday, January 9th. Sanford C. Bernstein boosted their target price on shares of Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Citigroup cut their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Finally, The Goldman Sachs Group assumed coverage on Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.55.

More Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Company raised its quarterly cash dividend to $0.945 per share (record March 13; payable March 27) — a ~14.5% increase that reinforces WM’s cash?return profile and appeals to income investors. WM Announces Cash Dividend
• Positive Sentiment: Large institutional buying remains evident (notable new/expanded stakes reported, including Norges Bank and several asset managers), which supports demand for the shares from long?term holders. WM Institutional Holdings / Analyst Summary
• Positive Sentiment: Analyst coverage remains constructive — consensus is a “Moderate Buy” with a consensus target above current levels, and several recent upgrades/target increases by firms such as Stifel, Wells Fargo and Baird. Analyst Notes
• Neutral Sentiment: Industry news: a third?party hazardous?waste vendor celebrated an anniversary — sector background but limited direct impact on WM’s fundamentals. All Clean Hazardous Waste Removal Celebrates Over 12 Years
• Negative Sentiment: Multiple insider sales were disclosed on March 2: VP Michael J. Watson sold 17,251 shares (~$4.17M) and SVP Tara J. Hemmer sold 4,818 shares (~$1.17M); smaller executive sales (CFO, other SVPs) were also filed. Large officer sales can create short?term selling pressure or raise governance/expectations questions, so watch for continued insider activity. TipRanks: Executives Unload Millions SEC Filing (Watson) SEC Filing (Hemmer)

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.