Dana Investment Advisors Inc. Cuts Holdings in Waste Management, Inc. (WM)

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Dana Investment Advisors Inc. lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,483 shares of the business services provider’s stock after selling 66,739 shares during the quarter. Waste Management comprises 1.6% of Dana Investment Advisors Inc.’s portfolio, making the stock its 13th largest position. Dana Investment Advisors Inc.’s holdings in Waste Management were worth $31,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Waste Management by 3.3% during the 4th quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock worth $2,817,372,000 after purchasing an additional 1,025,813 shares during the period. Parnassus Investments CA raised its position in shares of Waste Management by 1.3% during the 4th quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock worth $523,258,000 after purchasing an additional 73,432 shares during the period. AQR Capital Management LLC increased its position in Waste Management by 2.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,463,378 shares of the business services provider’s stock valued at $493,671,000 after acquiring an additional 128,847 shares during the period. Geode Capital Management LLC increased its position in Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after acquiring an additional 326,408 shares during the period. Finally, Northern Trust Corp increased its position in Waste Management by 3.8% in the 4th quarter. Northern Trust Corp now owns 5,024,041 shares of the business services provider’s stock valued at $447,089,000 after acquiring an additional 182,007 shares during the period. Hedge funds and other institutional investors own 74.40% of the company’s stock.

WM opened at $101.16 on Friday. Waste Management, Inc. has a 12 month low of $79.96 and a 12 month high of $101.78. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. The company has a market capitalization of $43.07 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.49 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 14th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.06 by $0.07. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, research analysts expect that Waste Management, Inc. will post 4.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be paid a dividend of $0.5125 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 7th. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.

Waste Management declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 13th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the business services provider to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Several analysts recently commented on the company. Oppenheimer raised their target price on Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. KeyCorp assumed coverage on Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and raised their target price for the company from $84.00 to $107.00 in a research report on Tuesday, December 4th. Finally, UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $103.00 in a research report on Thursday, January 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $101.00.

In other Waste Management news, Director Patrick W. Gross sold 365 shares of the stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total transaction of $33,955.95. Following the completion of the transaction, the director now directly owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.81, for a total value of $46,638.32. Following the transaction, the senior vice president now directly owns 17,208 shares of the company’s stock, valued at $1,700,322.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,092 shares of company stock valued at $402,648. 0.30% of the stock is currently owned by corporate insiders.

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

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