Edge Capital Group LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,613 shares of the business services provider’s stock, valued at approximately $322,000.
A number of other hedge funds have also modified their holdings of WM. We Are One Seven LLC bought a new position in shares of Waste Management in the fourth quarter worth $26,000. Larson Financial Group LLC bought a new position in shares of Waste Management in the fourth quarter worth $26,000. Altshuler Shaham Ltd bought a new position in shares of Waste Management in the fourth quarter worth $27,000. Gantzert Investment Co. LLC ADV bought a new position in shares of Waste Management in the fourth quarter worth $31,000. Finally, Athena Capital Advisors LLC bought a new position in shares of Waste Management in the fourth quarter worth $36,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.
WM opened at $101.95 on Friday. The firm has a market capitalization of $42.98 billion, a P/E ratio of 24.27, a PEG ratio of 2.66 and a beta of 0.67. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 52 week low of $79.96 and a 52 week high of $102.10.
Waste Management announced that its board has initiated a stock repurchase plan on Thursday, December 13th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be paid a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, March 7th. This is a boost from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio is currently 48.81%.
In other Waste Management news, insider Steve Batchelor sold 707 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $98.83, for a total transaction of $69,872.81. Following the completion of the sale, the insider now directly owns 22,142 shares in the company, valued at $2,188,293.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John J. Morris sold 1,540 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $98.82, for a total transaction of $152,182.80. Following the sale, the executive vice president now owns 95,827 shares of the company’s stock, valued at $9,469,624.14. The disclosure for this sale can be found here. In the last three months, insiders sold 4,092 shares of company stock worth $402,648. 0.30% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Friday, December 14th. KeyCorp assumed coverage on shares of Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price target on the stock. Goldman Sachs Group raised shares of Waste Management from a “sell” rating to a “buy” rating and upped their price target for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. Oppenheimer upped their price target on shares of Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and increased their target price for the company 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 stock. The stock has a consensus rating of “Buy” and a consensus target price of $101.00.
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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