Ingalls & Snyder LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,106 shares of the business services provider’s stock after selling 300 shares during the quarter. Ingalls & Snyder LLC’s holdings in Waste Management were worth $3,089,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Waste Management by 0.5% during the second quarter. Vanguard Group Inc. now owns 35,963,494 shares of the business services provider’s stock worth $4,149,109,000 after buying an additional 174,451 shares in the last quarter. BlackRock Inc. lifted its stake in Waste Management by 3.1% during the second quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after purchasing an additional 976,898 shares during the last quarter. State Street Corp lifted its stake in Waste Management by 0.5% during the third quarter. State Street Corp now owns 20,292,155 shares of the business services provider’s stock worth $2,333,598,000 after purchasing an additional 103,719 shares during the last quarter. AQR Capital Management LLC lifted its stake in Waste Management by 0.7% during the second quarter. AQR Capital Management LLC now owns 4,069,937 shares of the business services provider’s stock worth $469,549,000 after purchasing an additional 27,195 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Waste Management by 12.7% during the second quarter. Invesco Ltd. now owns 3,864,997 shares of the business services provider’s stock worth $445,904,000 after purchasing an additional 435,062 shares during the last quarter. 72.62% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on WM. Bank of America cut Waste Management from a “buy” rating to a “neutral” rating in a research note on Friday, October 18th. CIBC began coverage on Waste Management in a research note on Tuesday, December 17th. They set an “outperform” rating and a $130.00 target price for the company. ValuEngine cut Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group began coverage on Waste Management in a research note on Wednesday, November 27th. They set a “hold” rating and a $120.00 target price for the company. Finally, Stifel Nicolaus set a $125.00 target price on Waste Management and gave the stock a “buy” rating in a research note on Monday, October 21st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $121.27.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the company earned $1.15 EPS. Waste Management’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management, Inc. will post 4.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.512 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, December 5th. Waste Management’s payout ratio is 48.81%.
In related news, SVP Tara J. Hmmer sold 4,639 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.36, for a total transaction of $511,960.04. Following the completion of the transaction, the senior vice president now directly owns 25,405 shares of the company’s stock, valued at approximately $2,803,695.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 3,158 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $110.97, for a total value of $350,443.26. Following the transaction, the chief executive officer now directly owns 245,329 shares of the company’s stock, valued at $27,224,159.13. The disclosure for this sale can be found here. Insiders sold a total of 8,797 shares of company stock valued at $974,403 over the last quarter. 0.14% of the stock is owned by corporate insiders.
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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