Waste Management (NYSE:WM) Stake Boosted by LPL Financial LLC

LPL Financial LLC lifted its stake in Waste Management (NYSE:WM) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,720 shares of the business services provider’s stock after buying an additional 52,585 shares during the period. LPL Financial LLC owned about 0.06% of Waste Management worth $22,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WM. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Waste Management by 3.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 65,996 shares of the business services provider’s stock worth $5,166,000 after purchasing an additional 2,324 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Waste Management by 10.6% in the third quarter. Advisors Asset Management Inc. now owns 19,790 shares of the business services provider’s stock valued at $1,549,000 after acquiring an additional 1,889 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Waste Management by 5.2% in the third quarter. Commonwealth Equity Services Inc now owns 190,882 shares of the business services provider’s stock valued at $14,940,000 after acquiring an additional 9,472 shares during the last quarter. Sowell Financial Services LLC raised its stake in shares of Waste Management by 37.3% in the third quarter. Sowell Financial Services LLC now owns 9,009 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 2,448 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in shares of Waste Management by 21.3% in the third quarter. Manning & Napier Advisors LLC now owns 121,620 shares of the business services provider’s stock valued at $9,518,000 after acquiring an additional 21,354 shares during the last quarter. Hedge funds and other institutional investors own 76.76% of the company’s stock.

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A number of research firms have recently issued reports on WM. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Monday, January 8th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Raymond James Financial upgraded 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. UBS upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Finally, Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and an average target price of $90.44.

In other Waste Management news, VP Jeff M. Harris sold 8,820 shares of Waste Management stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total transaction of $774,396.00. Following the completion of the sale, the vice president now owns 80,203 shares of the company’s stock, valued at approximately $7,041,823.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction 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 sale, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. Insiders have sold a total of 106,291 shares of company stock valued at $9,154,833 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Shares of Waste Management stock traded down $1.81 during midday trading on Friday, reaching $84.21. The company had a trading volume of 2,135,481 shares, compared to its average volume of 2,077,621. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. The firm has a market cap of $36,519.69, a P/E ratio of 26.15, a P/E/G ratio of 1.91 and a beta of 0.70. Waste Management has a 1-year low of $70.08 and a 1-year high of $89.73.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. sell-side analysts expect that Waste Management will post 4.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, March 8th. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s payout ratio is currently 57.76%.

Waste Management declared that its Board of Directors has authorized a share repurchase program 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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Waste Management 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.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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