Alliancebernstein L.P. trimmed its position in Waste Management, Inc. (NYSE:WM) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 748,600 shares of the business services provider’s stock after selling 18,953 shares during the period. Alliancebernstein L.P.’s holdings in Waste Management were worth $64,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. APG Asset Management N.V. boosted its holdings in Waste Management by 74.7% in the fourth quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock valued at $303,469,000 after purchasing an additional 1,805,408 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Waste Management by 31.5% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 2,078,100 shares of the business services provider’s stock valued at $162,653,000 after purchasing an additional 498,200 shares during the last quarter. Ardevora Asset Management LLP purchased a new stake in Waste Management in the third quarter valued at $35,425,000. JPMorgan Chase & Co. boosted its holdings in Waste Management by 145.9% in the third quarter. JPMorgan Chase & Co. now owns 740,279 shares of the business services provider’s stock valued at $58,047,000 after purchasing an additional 439,252 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Waste Management by 10.9% in the fourth quarter. Geode Capital Management LLC now owns 4,374,435 shares of the business services provider’s stock valued at $376,732,000 after purchasing an additional 428,690 shares during the last quarter. 75.65% of the stock is currently owned by hedge funds and other institutional investors.
WM has been the topic of several recent research reports. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $100.00 price target on shares of Waste Management in a report on Thursday, January 4th. UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Friday, February 16th. Ten investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $90.13.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. research analysts predict that Waste Management, Inc. will post 4.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.465 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. This represents a $1.86 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, March 8th. Waste Management’s dividend payout ratio is presently 32.18%.
Waste Management announced that its board has approved a share buyback plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, VP Jeff M. Harris sold 8,820 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the transaction, the vice president now directly owns 80,203 shares of the company’s stock, valued at approximately $7,041,823.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Barry H. Caldwell sold 1,840 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $84.10, for a total transaction of $154,744.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,291 shares of company stock worth $9,154,833. Corporate insiders own 0.19% of the company’s stock.
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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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