Folger Hill Asset Management LP lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 176.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,500 shares of the business services provider’s stock after purchasing an additional 16,900 shares during the quarter. Folger Hill Asset Management LP’s holdings in Waste Management were worth $2,287,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System lifted its position in shares of Waste Management by 6.2% during the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after purchasing an additional 85,636 shares in the last quarter. Yellowstone Partners LLC acquired a new stake in Waste Management in the third quarter valued at approximately $449,000. Lourd Capital LLC acquired a new stake in Waste Management in the fourth quarter valued at approximately $256,000. Wesbanco Bank Inc. acquired a new stake in Waste Management in the fourth quarter valued at approximately $215,000. Finally, Moody Lynn & Lieberson LLC raised its holdings in Waste Management by 20.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock valued at $13,440,000 after acquiring an additional 28,760 shares in the last quarter. 75.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (NYSE WM) opened at $87.21 on Friday. The firm has a market cap of $36,966.36, a P/E ratio of 19.78, a P/E/G ratio of 1.93 and a beta of 0.70. Waste Management, Inc. has a 1-year low of $70.08 and a 1-year high of $89.73. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45.
Waste Management announced that its board has authorized a share repurchase program on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a yield of 2.13%. This is a boost from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio (DPR) is presently 42.18%.
In other Waste Management news, VP John J. Morris sold 18,254 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $84.83, for a total transaction of $1,548,486.82. Following the sale, the vice president now owns 56,338 shares of the company’s stock, valued at $4,779,152.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff M. Harris sold 60,088 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $86.67, for a total transaction of $5,207,826.96. Following the sale, the vice president now directly owns 80,203 shares in the company, valued at approximately $6,951,194.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,291 shares of company stock worth $9,154,833. 0.19% of the stock is owned by corporate insiders.
Several analysts recently weighed in on the stock. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Friday, February 16th. UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Saturday, February 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 target price on shares of Waste Management in a report on Thursday, January 4th. Finally, Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Ten equities research analysts have rated the stock with a buy rating, Waste Management has an average rating of “Buy” and a consensus target price of $90.13.
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About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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