TIAA CREF Investment Management LLC raised its holdings in shares of Waste Management (NYSE:WM) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,514,121 shares of the business services provider’s stock after buying an additional 116,856 shares during the period. TIAA CREF Investment Management LLC owned about 0.58% of Waste Management worth $216,969,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. APG Asset Management N.V. boosted its holdings in shares of Waste Management by 74.7% during the fourth quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock worth $303,469,000 after purchasing an additional 1,805,408 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Waste Management by 37.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,856,726 shares of the business services provider’s stock worth $246,536,000 after purchasing an additional 778,626 shares during the period. Renaissance Technologies LLC raised its stake in Waste Management by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,808,600 shares of the business services provider’s stock worth $328,682,000 after buying an additional 511,700 shares in the last quarter. Ardevora Asset Management LLP bought a new position in Waste Management in the third quarter worth about $35,425,000. Finally, JPMorgan Chase & Co. raised its stake in Waste Management by 145.9% in the third quarter. JPMorgan Chase & Co. now owns 740,279 shares of the business services provider’s stock worth $58,047,000 after buying an additional 439,252 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.
Shares of WM opened at $84.21 on Friday. The company has a market cap of $37,070.45, a P/E ratio of 26.15, a PEG ratio of 1.94 and a beta of 0.70. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45. Waste Management has a twelve month low of $70.08 and a twelve month high of $89.73.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. sell-side analysts anticipate that Waste Management will post 4.04 EPS for the current fiscal year.
Waste Management declared that its board has authorized a share repurchase plan on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a $0.465 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.86 annualized dividend and a yield of 2.21%. This is a boost from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio (DPR) is currently 57.76%.
In related news, CEO James C. Fish, Jr. sold 2,159 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.08, for a total value of $181,528.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the sale, the director now owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. Insiders sold 106,291 shares of company stock worth $9,154,833 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
WM has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. UBS raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a research note on Friday, February 16th. Finally, Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.44.
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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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