Element Capital Management LLC bought a new stake in shares of Waste Management (NYSE:WM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 261,295 shares of the business services provider’s stock, valued at approximately $22,550,000. Element Capital Management LLC owned approximately 0.06% of Waste Management at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its stake in Waste Management by 0.5% during the 4th quarter. BlackRock Inc. now owns 32,153,839 shares of the business services provider’s stock valued at $2,774,876,000 after acquiring an additional 155,373 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Waste Management by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 7,277,527 shares of the business services provider’s stock valued at $569,612,000 after purchasing an additional 103,234 shares during the period. Janus Henderson Group PLC increased its position in shares of Waste Management by 8.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,684,275 shares of the business services provider’s stock valued at $366,641,000 after purchasing an additional 366,450 shares during the period. Geode Capital Management LLC increased its position in shares of Waste Management by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 4,374,435 shares of the business services provider’s stock valued at $376,732,000 after purchasing an additional 428,690 shares during the period. Finally, APG Asset Management N.V. grew its holdings in shares of Waste Management by 74.7% in the 4th quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock worth $303,469,000 after acquiring an additional 1,805,408 shares during the last quarter. 76.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Tuesday, December 26th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a report on Friday, February 16th. Finally, UBS upgraded Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $90.44.
Shares of WM stock traded down $1.81 on Friday, reaching $84.21. 2,135,481 shares of the company’s stock traded hands, compared to its average volume of 2,077,621. Waste Management has a 12-month low of $70.08 and a 12-month high of $89.73. 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 company has a market capitalization of $36,519.69, a price-to-earnings ratio of 26.15, a P/E/G ratio of 1.91 and a beta of 0.70.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. sell-side analysts predict 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. Investors of record on Friday, March 9th were given a dividend of $0.465 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a yield of 2.21%. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.
Waste Management declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Waste Management news, VP Jeff M. Harris sold 60,088 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $86.67, for a total value of $5,207,826.96. Following the completion of the sale, the vice president now owns 80,203 shares of the company’s stock, valued at $6,951,194.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeff M. Harris sold 8,820 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $87.80, for a total value of $774,396.00. Following the completion of the sale, the vice president now directly owns 80,203 shares of the company’s stock, valued at approximately $7,041,823.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,291 shares of company stock valued at $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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