Westbourne Investments Inc. Decreases Stock Position in Waste Management, Inc. $WM

Westbourne Investments Inc. reduced its position in Waste Management, Inc. (NYSE:WM) by 38.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,072 shares of the business services provider’s stock after selling 3,727 shares during the period. Westbourne Investments Inc.’s holdings in Waste Management were worth $1,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WM. Old Port Advisors grew its position in Waste Management by 0.3% in the 4th quarter. Old Port Advisors now owns 16,963 shares of the business services provider’s stock worth $3,727,000 after purchasing an additional 46 shares during the period. Gladstone Institutional Advisory LLC grew its position in Waste Management by 1.3% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 3,853 shares of the business services provider’s stock worth $851,000 after purchasing an additional 49 shares during the period. Clean Yield Group grew its position in Waste Management by 6.7% in the 3rd quarter. Clean Yield Group now owns 801 shares of the business services provider’s stock worth $177,000 after purchasing an additional 50 shares during the period. Mendel Money Management grew its position in Waste Management by 1.8% in the 3rd quarter. Mendel Money Management now owns 2,903 shares of the business services provider’s stock worth $641,000 after purchasing an additional 50 shares during the period. Finally, Canton Hathaway LLC grew its position in Waste Management by 0.5% in the 3rd quarter. Canton Hathaway LLC now owns 9,644 shares of the business services provider’s stock worth $2,130,000 after purchasing an additional 51 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.8%

Shares of WM stock opened at $233.23 on Friday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a fifty day moving average price of $233.05 and a 200-day moving average price of $221.75. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market cap of $93.97 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.44 and a beta of 0.54.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.39 billion. During the same period in the previous year, the firm earned $1.70 EPS. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $0.945 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, March 13th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is presently 56.42%.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 7,352 shares of Waste Management stock in a transaction on Friday, February 13th. The shares were sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,644,130. The trade was a 32.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction on 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 transaction, the vice president owned 44,146 shares in the company, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 98,042 shares of company stock worth $23,039,777 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WM. Barclays cut their target price on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. Wells Fargo & Company boosted their price objective on shares of Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $225.00 to $260.00 in a research report on Friday, January 9th. Finally, Citigroup cut their price objective on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a research report on Friday, January 16th. One 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 MarketBeat.com, Waste Management currently has a consensus 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.