KCM Investment Advisors LLC Sells 2,049 Shares of Waste Management (WM)

KCM Investment Advisors LLC decreased its position in Waste Management (NYSE:WM) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 202,212 shares of the business services provider’s stock after selling 2,049 shares during the period. Waste Management accounts for 1.0% of KCM Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. KCM Investment Advisors LLC’s holdings in Waste Management were worth $17,451,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Oakworth Capital Inc. boosted its holdings in Waste Management by 20.3% during the fourth quarter. Oakworth Capital Inc. now owns 3,796 shares of the business services provider’s stock worth $312,000 after buying an additional 641 shares during the last quarter. Sowell Financial Services LLC boosted its holdings in Waste Management by 7.1% during the fourth quarter. Sowell Financial Services LLC now owns 9,653 shares of the business services provider’s stock worth $849,000 after buying an additional 644 shares during the last quarter. Pittenger & Anderson Inc. boosted its holdings in Waste Management by 0.9% during the third quarter. Pittenger & Anderson Inc. now owns 78,895 shares of the business services provider’s stock worth $6,175,000 after buying an additional 665 shares during the last quarter. Trustmark National Bank Trust Department boosted its holdings in Waste Management by 12.8% during the third quarter. Trustmark National Bank Trust Department now owns 6,034 shares of the business services provider’s stock worth $472,000 after buying an additional 685 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Waste Management by 1.5% during the third quarter. Commonwealth Bank of Australia now owns 45,985 shares of the business services provider’s stock worth $3,592,000 after buying an additional 688 shares during the last quarter. Institutional investors and hedge funds own 76.71% of the company’s stock.

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In related news, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeff M. Harris sold 8,820 shares of Waste Management stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the completion of the sale, the vice president now directly owns 80,203 shares in the company, valued at approximately $7,041,823.40. The disclosure for this sale can be found here. In the last three months, insiders sold 106,291 shares of company stock worth $9,154,833. 0.19% of the stock is owned by insiders.

A number of equities analysts have issued reports on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Tuesday, December 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Friday, February 16th. Finally, UBS raised Waste Management from a “market perform” rating to an “outperform” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $90.44.

Shares of Waste Management stock opened at $85.61 on Thursday. The company has a market capitalization of $37,413.05, a PE ratio of 19.48, a PEG ratio of 1.95 and a beta of 0.70. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. Waste Management has a 1 year low of $70.08 and a 1 year high of $89.73.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. Waste Management’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. research analysts forecast that Waste Management will post 4.04 EPS for the current year.

Waste Management announced that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, March 8th. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio (DPR) is currently 42.18%.

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About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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