Pinebridge Investments LLC Buys New Position in Waste Management, Inc. $WM

Pinebridge Investments LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,938 shares of the business services provider’s stock, valued at approximately $7,896,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC bought a new position in shares of Waste Management during the fourth quarter valued at approximately $25,000. RHL Group LLC bought a new position in Waste Management in the fourth quarter worth $29,000. JPL Wealth Management LLC bought a new position in Waste Management in the third quarter worth $30,000. Kelleher Financial Advisors bought a new position in Waste Management in the fourth quarter worth $31,000. Finally, Godfrey Financial Associates Inc. bought a new position in Waste Management in the fourth quarter worth $34,000. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other news, SVP Johnson Varkey sold 121 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the sale, the senior vice president owned 9,293 shares in the company, valued at $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John J. Morris sold 4,211 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the sale, the chief operating officer owned 99,929 shares in the company, valued at approximately $24,320,720.02. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,515 shares of company stock worth $1,099,450. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WM shares. TD Cowen increased their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Robert W. Baird increased their price objective on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Wolfe Research started coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Royal Bank Of Canada increased their price objective on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company decreased their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.67.

Waste Management Price Performance

Shares of NYSE:WM opened at $220.45 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a fifty day moving average price of $223.62 and a 200-day moving average price of $224.46. The company has a market capitalization of $88.53 billion, a PE ratio of 31.90, a PEG ratio of 2.30 and a beta of 0.45.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share 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 firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the company earned $1.67 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

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 issued a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s dividend payout ratio is presently 54.70%.

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.