Westover Capital Advisors LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 6,496 shares of the business services provider’s stock, valued at approximately $578,000.
Other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Waste Management during the fourth quarter worth $942,000. Edge Capital Group LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $322,000. Impax Asset Management Group plc grew its stake in shares of Waste Management by 1.3% during the fourth quarter. Impax Asset Management Group plc now owns 970,401 shares of the business services provider’s stock worth $86,356,000 after purchasing an additional 12,854 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Waste Management by 0.9% during the fourth quarter. Nuveen Asset Management LLC now owns 21,817 shares of the business services provider’s stock worth $1,941,000 after purchasing an additional 196 shares during the period. Finally, Suntrust Banks Inc. grew its stake in shares of Waste Management by 4.2% during the fourth quarter. Suntrust Banks Inc. now owns 42,831 shares of the business services provider’s stock worth $3,811,000 after purchasing an additional 1,744 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $84.00 to $107.00 in a research note on Tuesday, December 4th. Oppenheimer lifted their price objective on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 15th. KeyCorp assumed coverage on Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 price objective for the company. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $103.00 in a research note on Thursday, January 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $101.00.
WM stock traded down $0.36 during midday trading on Wednesday, hitting $100.90. 234,956 shares of the company’s stock were exchanged, compared to its average volume of 1,753,546. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53. The firm has a market cap of $43.23 billion, a PE ratio of 24.02, a P/E/G ratio of 2.66 and a beta of 0.67. Waste Management, Inc. has a one year low of $79.96 and a one year high of $101.95.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.78 billion. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, analysts forecast that Waste Management, Inc. will post 4.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be issued a dividend of $0.5125 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 annualized dividend and a yield of 2.03%. Waste Management’s payout ratio is currently 48.81%.
Waste Management announced that its Board of Directors has approved a share repurchase plan on Thursday, December 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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.
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