Waste Management, Inc. (NYSE:WM) Shares Purchased by Baker Avenue Asset Management LP

by · The Cerbat Gem

Baker Avenue Asset Management LP grew its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,161 shares of the business services provider’s stock after acquiring an additional 196 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Waste Management were worth $3,867,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Transce3nd LLC acquired a new stake in Waste Management during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Waste Management during the fourth quarter valued at about $33,000. Hurley Capital LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $34,000. Sugar Maple Asset Management LLC acquired a new position in shares of Waste Management in the fourth quarter worth about $35,000. Finally, Richardson Financial Services Inc. boosted its holdings in Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM opened at $233.97 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32. The stock has a market capitalization of $94.13 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.71 and a beta of 0.66. The business has a 50-day moving average price of $228.21 and a two-hundred day moving average price of $220.44.

Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the company earned $1.75 EPS. Equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.41%. Waste Management’s payout ratio is currently 49.77%.

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 5,826 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,294,071.12. Following the sale, the chief financial officer now owns 69,442 shares in the company, valued at approximately $15,424,457.04. This represents a 7.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Tara J. Hemmer sold 4,576 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the sale, the senior vice president now directly owns 58,765 shares of the company’s stock, valued at approximately $13,052,881.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,924 shares of company stock worth $21,298,176. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group decreased their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. HSBC upgraded Waste Management from a “hold” rating to a “buy” rating and boosted their price target for the company from $210.00 to $265.00 in a report on Friday, April 25th. Oppenheimer raised their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Scotiabank boosted their target price on shares of Waste Management from $255.00 to $260.00 and gave the company a “sector outperform” rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley raised their price target on shares of Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.29.

Read Our Latest Report on Waste Management

About Waste Management

(Free Report)

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.

Featured Articles