Macquarie Group Ltd. lessened its position in Waste Management (NYSE:WM) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,751,189 shares of the business services provider’s stock after selling 458,483 shares during the quarter. Waste Management accounts for 1.3% of Macquarie Group Ltd.’s portfolio, making the stock its 10th largest position. Macquarie Group Ltd. owned about 2.02% of Waste Management worth $755,015,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. MHI Funds LLC purchased a new position in Waste Management in the 4th quarter worth about $184,000. Horan Capital Advisors LLC. purchased a new position in Waste Management in the 3rd quarter worth about $186,000. Cerebellum GP LLC purchased a new position in Waste Management in the 4th quarter worth about $186,000. Capital Guardian Trust Co. purchased a new position in Waste Management in the 3rd quarter worth about $193,000. Finally, FTB Advisors Inc. increased its stake in Waste Management by 44.2% in the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock worth $197,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Several research analysts recently commented on WM shares. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. UBS started coverage on shares of Waste Management in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 price target on the stock. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price on shares of Waste Management in a research report on Thursday, January 4th. Finally, Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $90.44.
NYSE WM opened at $84.21 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. The stock has a market cap of $37,070.45, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.94 and a beta of 0.70. Waste Management has a one year low of $70.08 and a one year high of $89.73.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.57 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts expect that Waste Management will post 4.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were given a $0.465 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s payout ratio is presently 57.76%.
Waste Management announced that its board has approved a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the transaction, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 2,159 shares of Waste Management stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $84.08, for a total transaction of $181,528.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,291 shares of company stock worth $9,154,833. Insiders own 0.19% of the company’s stock.
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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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