Profund Advisors LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 30.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,133 shares of the business services provider’s stock after purchasing an additional 3,289 shares during the quarter. Profund Advisors LLC’s holdings in Waste Management were worth $1,220,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. Strategic Capital Advisers Inc. purchased a new position in shares of Waste Management during the fourth quarter worth about $2,731,000. Chilton Capital Management LLC grew its holdings in shares of Waste Management by 58.3% during the fourth quarter. Chilton Capital Management LLC now owns 123,899 shares of the business services provider’s stock worth $10,692,000 after buying an additional 45,606 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Waste Management by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,808,600 shares of the business services provider’s stock worth $328,682,000 after buying an additional 511,700 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Waste Management during the fourth quarter worth about $663,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Waste Management by 62.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 183,822 shares of the business services provider’s stock worth $15,864,000 after buying an additional 70,422 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors.
Shares of Waste Management, Inc. (NYSE WM) opened at $86.66 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.80 and a quick ratio of 0.77. The company has a market cap of $37,580.00, a PE ratio of 14.99, a P/E/G ratio of 1.97 and a beta of 0.70. Waste Management, Inc. has a 12-month low of $70.08 and a 12-month high of $89.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a yield of 2.15%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s dividend payout ratio (DPR) is presently 32.18%.
Waste Management announced that its Board of Directors has approved a share buyback plan on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
WM has been the topic of a number of research reports. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, December 26th. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. UBS Group raised Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Finally, Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Friday, February 16th. Ten research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $90.13.
In related news, VP Jeff M. Harris sold 8,820 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the completion of the sale, the vice president now owns 80,203 shares in the company, valued at $7,041,823.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the sale, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,291 shares of company stock valued at $9,154,833. 0.19% of the stock is owned by insiders.
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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