BB&T Securities LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,149 shares of the business services provider’s stock after selling 802 shares during the period. BB&T Securities LLC owned about 0.10% of Waste Management worth $38,934,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. MHI Funds LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $184,000. Horan Capital Advisors LLC. bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $186,000. Cerebellum GP LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $186,000. Capital Guardian Trust Co. bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $193,000. Finally, FTB Advisors Inc. lifted its holdings in shares of Waste Management by 44.2% during the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock worth $197,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Waste Management, Inc. (NYSE:WM) opened at $86.25 on Friday. The company has a market cap of $37,400.00, a P/E ratio of 14.92, a P/E/G ratio of 1.96 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. Waste Management, Inc. has a 52 week low of $70.08 and a 52 week high of $89.73.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a net margin of 13.45% and a return on equity of 25.48%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. equities analysts expect that Waste Management, Inc. will post 4.04 earnings per share for the current year.
Waste Management declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.465 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, March 8th. This represents a $1.86 annualized dividend and a yield of 2.16%. Waste Management’s dividend payout ratio is presently 32.18%.
In other Waste Management news, CEO James C. Fish, Jr. sold 2,159 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.08, for a total value of $181,528.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 1,840 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.10, for a total transaction of $154,744.00. The disclosure for this sale can be found here. In the last three months, insiders sold 106,291 shares of company stock valued at $9,154,833. 0.19% of the stock is owned by insiders.
A number of analysts have recently weighed in on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, December 26th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a report on Friday, February 16th. Finally, UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $90.44.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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