Clark Capital Management Group Inc. Buys 4,341 Shares of Waste Management, Inc. $WM

Clark Capital Management Group Inc. boosted its stake in Waste Management, Inc. (NYSE:WM) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,094 shares of the business services provider’s stock after acquiring an additional 4,341 shares during the period. Clark Capital Management Group Inc. owned 0.06% of Waste Management worth $56,553,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Sprott Inc. bought a new stake in Waste Management during the first quarter valued at $325,000. Intrua Financial LLC grew its holdings in Waste Management by 2.0% during the 2nd quarter. Intrua Financial LLC now owns 2,591 shares of the business services provider’s stock worth $593,000 after acquiring an additional 52 shares during the period. Advisors Capital Management LLC grew its holdings in Waste Management by 482.8% during the 2nd quarter. Advisors Capital Management LLC now owns 29,138 shares of the business services provider’s stock worth $6,668,000 after acquiring an additional 24,138 shares during the period. Finally, Foundations Investment Advisors LLC raised its position in shares of Waste Management by 43.4% in the 2nd quarter. Foundations Investment Advisors LLC now owns 6,032 shares of the business services provider’s stock worth $1,380,000 after acquiring an additional 1,825 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $238.61 on Friday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The stock’s 50 day moving average is $229.82 and its 200-day moving average is $220.36. 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 market capitalization of $96.24 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.52 and a beta of 0.57.

Waste Management (NYSE:WM) last posted its quarterly 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). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same period in the previous year, the business posted $1.70 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 13th. This is a boost 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 payout ratio is presently 49.25%.

Insider Buying and Selling

In related news, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $243.38, for a total value of $1,024,873.18. Following the transaction, the chief operating officer owned 99,929 shares of the company’s stock, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock worth $23,039,777 over the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WM shares. Sanford C. Bernstein upped their target price on Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 5th. Stifel Nicolaus boosted their price target on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wolfe Research started coverage on Waste Management in a report on Friday. They set a “peer perform” rating on the stock. Wells Fargo & Company lifted their price objective on shares of Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their target price for the company from $225.00 to $260.00 in a research report on Friday, January 9th. One equities 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.55.

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.