Mountain Capital Investment Advisors Inc Sells 1,809 Shares of Waste Management, Inc. (NYSE:WM)


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Mountain Capital Investment Advisors Inc lessened its stake in Waste Management, Inc. (NYSE:WM) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,787 shares of the business services provider’s stock after selling 1,809 shares during the period. Mountain Capital Investment Advisors Inc’s holdings in Waste Management were worth $911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sontag Advisory LLC lifted its stake in shares of Waste Management by 4.0% in the third quarter. Sontag Advisory LLC now owns 2,306 shares of the business services provider’s stock valued at $261,000 after buying an additional 89 shares during the period. Appleton Partners Inc. MA lifted its stake in shares of Waste Management by 2.0% in the third quarter. Appleton Partners Inc. MA now owns 4,510 shares of the business services provider’s stock valued at $510,000 after buying an additional 90 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Waste Management by 5.8% in the third quarter. Clearstead Advisors LLC now owns 1,764 shares of the business services provider’s stock valued at $200,000 after buying an additional 96 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Waste Management by 0.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,134 shares of the business services provider’s stock valued at $1,713,000 after buying an additional 102 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in shares of Waste Management by 0.8% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 13,396 shares of the business services provider’s stock valued at $1,580,000 after buying an additional 105 shares during the period. Institutional investors and hedge funds own 71.42% of the company’s stock.

NYSE WM opened at $116.21 on Thursday. The firm has a market cap of $49.11 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 4.70 and a beta of 0.72. The company has a 50 day moving average of $117.37 and a 200-day moving average of $113.61. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. Waste Management, Inc. has a 1-year low of $85.34 and a 1-year high of $126.79.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, November 2nd. The business services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.74 billion. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.19 earnings per share. On average, analysts forecast that Waste Management, Inc. will post 3.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Stockholders of record on Friday, December 4th were issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, December 3rd. Waste Management’s payout ratio is 49.55%.

Waste Management announced that its Board of Directors has authorized a share repurchase plan on Monday, December 14th that authorizes the company to repurchase $1.35 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

WM has been the subject of several research reports. Oppenheimer increased their target price on shares of Waste Management from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Waste Management from $111.00 to $119.00 and gave the company a “hold” rating in a research note on Wednesday, November 4th. Bank of America lowered shares of Waste Management from a “neutral” rating to an “underperform” rating and set a $116.00 price target for the company. in a research report on Tuesday, October 27th. JPMorgan Chase & Co. lowered shares of Waste Management from a “neutral” rating to an “underweight” rating and set a $99.00 price target for the company. in a research report on Wednesday, September 23rd. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on shares of Waste Management from $121.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $117.07.

In related news, CAO Leslie K. Nagy sold 414 shares of the firm’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $117.39, for a total value of $48,599.46. Following the completion of the sale, the chief accounting officer now owns 3,765 shares of the company’s stock, valued at $441,973.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 32,293 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $119.75, for a total transaction of $3,867,086.75. Following the completion of the sale, the chief financial officer now directly owns 51,380 shares of the company’s stock, valued at approximately $6,152,755. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,070 shares of company stock valued at $12,360,123. Company insiders own 0.16% of the company’s stock.

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 offers 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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