Intact Investment Management Inc. increased its stake in Waste Management, Inc. (NYSE:WM) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,400 shares of the business services provider’s stock after acquiring an additional 7,500 shares during the period. Intact Investment Management Inc.’s holdings in Waste Management were worth $4,602,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Great Lakes Advisors LLC increased its holdings in Waste Management by 4.4% in the fourth quarter. Great Lakes Advisors LLC now owns 58,719 shares of the business services provider’s stock valued at $6,692,000 after buying an additional 2,497 shares during the last quarter. ProShare Advisors LLC increased its holdings in Waste Management by 16.8% in the fourth quarter. ProShare Advisors LLC now owns 87,504 shares of the business services provider’s stock valued at $9,972,000 after buying an additional 12,617 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Waste Management in the third quarter valued at $508,000. Private Asset Management Inc. grew its holdings in shares of Waste Management by 4.6% during the fourth quarter. Private Asset Management Inc. now owns 2,266 shares of the business services provider’s stock worth $258,000 after purchasing an additional 100 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Waste Management during the fourth quarter worth about $484,000. Institutional investors and hedge funds own 74.24% of the company’s stock.
In other Waste Management news, CEO James C. Fish, Jr. sold 67,425 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $125.79, for a total value of $8,481,390.75. Following the transaction, the chief executive officer now owns 355,982 shares in the company, valued at approximately $44,778,975.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank M. Clark sold 267 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $119.69, for a total transaction of $31,957.23. Following the completion of the transaction, the director now owns 32,396 shares in the company, valued at approximately $3,877,477.24. The disclosure for this sale can be found here. Insiders have sold a total of 137,683 shares of company stock worth $17,217,165 in the last 90 days. Company insiders own 0.14% of the company’s stock.
Shares of WM traded up $1.97 during mid-day trading on Thursday, reaching $92.91. 303,475 shares of the company’s stock were exchanged, compared to its average volume of 4,530,796. The company has a market cap of $39.10 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.36 and a beta of 0.65. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 1.88. Waste Management, Inc. has a 52-week low of $85.34 and a 52-week high of $126.79. The company has a 50-day simple moving average of $115.22 and a two-hundred day simple moving average of $114.76.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Waste Management had a net margin of 10.81% and a return on equity of 28.14%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 EPS. As a group, equities research analysts predict that Waste Management, Inc. will post 4.6 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.545 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.35%. Waste Management’s payout ratio is presently 49.55%.
Several equities analysts have issued reports on the company. Goldman Sachs Group lowered Waste Management from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a report on Friday, March 13th. JPMorgan Chase & Co. raised their price objective on Waste Management from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. UBS Group dropped their price objective on Waste Management from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Benchmark raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 28th. Finally, CIBC began coverage on Waste Management in a report on Tuesday, December 17th. They set an “outperform” rating and a $130.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $127.43.
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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