Flinton Capital Management LLC grew its position in shares of Waste Management (NYSE:WM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,352 shares of the business services provider’s stock after acquiring an additional 992 shares during the quarter. Flinton Capital Management LLC’s holdings in Waste Management were worth $2,274,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. MHI Funds LLC acquired a new stake in Waste Management during the fourth quarter worth about $184,000. Cerebellum GP LLC acquired a new stake in Waste Management during the fourth quarter worth about $186,000. Gradient Investments LLC acquired a new stake in Waste Management during the fourth quarter worth about $197,000. FTB Advisors Inc. grew its stake in shares of Waste Management by 44.2% in the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after buying an additional 700 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at about $203,000. Institutional investors own 76.76% of the company’s stock.
WM traded down $1.81 on Friday, reaching $84.21. The company’s stock had a trading volume of 2,135,481 shares, compared to its average volume of 2,077,621. The company has a market capitalization of $37,304.63, a P/E ratio of 26.15, a P/E/G ratio of 1.95 and a beta of 0.70. Waste Management has a 1 year low of $70.08 and a 1 year high of $89.73. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80.
Waste Management (NYSE:WM) last issued its quarterly 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. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. equities research analysts forecast that Waste Management will post 4.04 earnings per share for the current fiscal year.
Waste Management declared that its board has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared 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 dividend on an annualized basis and a yield of 2.21%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio is currently 57.76%.
In other Waste Management news, Director Patrick W. Gross sold 387 shares of the 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 transaction, 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 document filed with the SEC, which is available at this link. Also, VP Jeff M. Harris sold 8,820 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $87.80, for a total value of $774,396.00. Following the transaction, the vice president now directly owns 80,203 shares in the company, valued at approximately $7,041,823.40. The disclosure for this sale can be found here. Insiders sold 106,291 shares of company stock valued at $9,154,833 in the last three months. 0.19% of the stock is currently owned by company insiders.
A number of equities research analysts have recently issued reports on the company. UBS assumed coverage on Waste Management in a research note on Wednesday, March 14th. They issued a “neutral” rating and a $93.00 target price for the company. Raymond James Financial upgraded 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. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Saturday, February 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 target price on shares of Waste Management in a research note on Thursday, January 4th. Finally, Macquarie upgraded 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 company. The stock has a consensus rating of “Buy” and an average price target of $90.44.
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About Waste Management
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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