Glenmede Trust Co. NA lifted its stake in shares of Waste Management (NYSE:WM) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,451 shares of the business services provider’s stock after purchasing an additional 1,620 shares during the quarter. Glenmede Trust Co. NA’s holdings in Waste Management were worth $3,921,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in WM. Advisors Asset Management Inc. grew its holdings in Waste Management by 10.6% during the third quarter. Advisors Asset Management Inc. now owns 19,790 shares of the business services provider’s stock worth $1,549,000 after acquiring an additional 1,889 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Waste Management during the third quarter worth $203,000. Pacer Advisors Inc. grew its holdings in Waste Management by 10.3% during the third quarter. Pacer Advisors Inc. now owns 10,524 shares of the business services provider’s stock worth $824,000 after acquiring an additional 982 shares during the period. South Dakota Investment Council acquired a new position in Waste Management during the third quarter worth $2,387,000. Finally, TD Asset Management Inc. grew its holdings in Waste Management by 4.2% during the third quarter. TD Asset Management Inc. now owns 455,308 shares of the business services provider’s stock worth $35,637,000 after acquiring an additional 18,329 shares during the period. Institutional investors and hedge funds own 76.71% of the company’s stock.
Shares of Waste Management stock opened at $82.90 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. The firm has a market capitalization of $36,532.69, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.91 and a beta of 0.70. Waste Management has a twelve month low of $70.08 and a twelve month high of $89.73.
Waste Management announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a $0.465 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.86 annualized dividend and a yield of 2.24%. Waste Management’s dividend payout ratio is 42.18%.
In other news, CEO James C. Fish, Jr. sold 2,159 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.08, for a total value of $181,528.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeff M. Harris sold 8,820 shares of the company’s stock in a transaction 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 owns 80,203 shares in the company, valued at $7,041,823.40. The disclosure for this sale can be found here. Insiders sold 106,291 shares of company stock worth $9,154,833 in the last three months. 0.19% of the stock is owned by corporate insiders.
A number of research analysts recently weighed in on WM shares. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Zacks Investment Research raised 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. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. UBS raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James Financial raised 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. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.44.
Waste Management Company Profile
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.
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