Smith Moore & CO. reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,660 shares of the business services provider’s stock after selling 364 shares during the quarter. Smith Moore & CO.’s holdings in Waste Management were worth $326,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC grew its position in shares of Waste Management by 0.9% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock worth $3,103,000 after buying an additional 295 shares during the period. NuWave Investment Management LLC grew its position in shares of Waste Management by 2,840.6% during the 4th quarter. NuWave Investment Management LLC now owns 6,440 shares of the business services provider’s stock worth $573,000 after buying an additional 6,221 shares during the period. South Texas Money Management Ltd. grew its position in shares of Waste Management by 0.8% during the 4th quarter. South Texas Money Management Ltd. now owns 41,557 shares of the business services provider’s stock worth $3,698,000 after buying an additional 339 shares during the period. Ibex Wealth Advisors grew its position in shares of Waste Management by 1.3% during the 4th quarter. Ibex Wealth Advisors now owns 49,620 shares of the business services provider’s stock worth $4,416,000 after buying an additional 659 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of Waste Management by 0.3% during the 4th quarter. D.A. Davidson & CO. now owns 49,267 shares of the business services provider’s stock worth $4,384,000 after buying an additional 167 shares during the period. Institutional investors own 74.06% of the company’s stock.
Shares of Waste Management stock opened at $101.90 on Friday. Waste Management, Inc. has a 12-month low of $79.96 and a 12-month high of $102.64. The company has a market cap of $43.47 billion, a PE ratio of 24.27, a P/E/G ratio of 2.68 and a beta of 0.67. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Waste Management, Inc. will post 4.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.5125 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio is currently 48.81%.
Waste Management declared that its board has authorized a share repurchase program on Thursday, December 13th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently weighed in on WM shares. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $107.00 in a report on Tuesday, December 4th. UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $103.00 in a report on Thursday, January 10th. KeyCorp assumed coverage on Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, Oppenheimer boosted their target price on Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $101.00.
In other news, Director Patrick W. Gross sold 365 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total transaction of $33,955.95. Following the sale, the director now owns 53,058 shares in the company, valued at approximately $4,935,985.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.81, for a total value of $46,638.32. Following the sale, the senior vice president now owns 17,208 shares in the company, valued at approximately $1,700,322.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,092 shares of company stock worth $402,648. Company insiders own 0.30% of the company’s stock.
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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.
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