Keel Point LLC Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Keel Point LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,160 shares of the business services provider’s stock after buying an additional 92 shares during the period. Keel Point LLC’s holdings in Waste Management were worth $387,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 1st quarter worth about $29,000. Gilfoyle & Co LLC bought a new position in Waste Management during the fourth quarter valued at approximately $30,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Waste Management during the fourth quarter worth approximately $30,000. KB Financial Partners LLC bought a new stake in shares of Waste Management in the 1st quarter worth approximately $33,000. Finally, State of Wyoming bought a new position in shares of Waste Management during the 4th quarter valued at $34,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WM shares. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $190.00 to $205.00 in a research note on Wednesday, February 14th. BMO Capital Markets increased their target price on Waste Management from $184.00 to $196.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Erste Group Bank upgraded Waste Management from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Stifel Nicolaus lifted their target price on shares of Waste Management from $190.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada started coverage on shares of Waste Management in a report on Monday, April 8th. They issued a “sector perform” rating and a $211.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $204.85.

Insider Buying and Selling

In related news, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $184.50, for a total transaction of $461,250.00. Following the completion of the sale, the executive vice president now owns 32,959 shares in the company, valued at $6,080,935.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the transaction, the chief financial officer now owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $184.50, for a total value of $461,250.00. Following the completion of the sale, the executive vice president now owns 32,959 shares in the company, valued at $6,080,935.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,507 shares of company stock valued at $4,157,770. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $204.96 on Wednesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.90 and a quick ratio of 0.86. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The stock has a market capitalization of $82.25 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.12 and a beta of 0.72. The business’s fifty day moving average price is $206.30 and its 200-day moving average price is $184.27.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.21. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the company posted $1.30 EPS. On average, equities analysts predict that Waste Management, Inc. will post 6.88 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 1.46%. This is an increase from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is currently 53.00%.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.