LS Investment Advisors LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,569 shares of the business services provider’s stock after selling 2,316 shares during the quarter. LS Investment Advisors LLC’s holdings in Waste Management were worth $2,552,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in WM. Atlantic Trust LLC raised its stake in Waste Management by 7.6% during the 2nd quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock valued at $172,000 after purchasing an additional 270 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in Waste Management during the 2nd quarter valued at $182,000. MHI Funds LLC acquired a new position in Waste Management during the 4th quarter valued at $184,000. Horan Capital Advisors LLC. acquired a new position in Waste Management during the 3rd quarter valued at $186,000. Finally, Cerebellum GP LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $186,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.
In other news, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Waste Management, Inc. (WM) traded up $1.13 on Monday, hitting $85.15. 3,362,700 shares of the stock traded hands, compared to its average volume of 2,414,194. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. Waste Management, Inc. has a fifty-two week low of $70.08 and a fifty-two week high of $89.73. The company has a market cap of $36,927.33, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.70.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. sell-side analysts predict that Waste Management, Inc. will post 4.04 EPS for the current fiscal year.
Waste Management announced that its Board of Directors has approved a share repurchase program on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
WM has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, December 26th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. KeyCorp restated a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a research note on Friday, October 27th. Finally, Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $87.60.
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Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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