Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,830 shares of the business services provider’s stock after acquiring an additional 11,003 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.07% of Waste Management worth $25,184,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System boosted its holdings in shares of Waste Management by 6.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock valued at $114,756,000 after acquiring an additional 85,636 shares during the last quarter. Yellowstone Partners LLC bought a new position in shares of Waste Management in the 3rd quarter worth approximately $449,000. Lourd Capital LLC bought a new position in shares of Waste Management in the 4th quarter worth approximately $256,000. Wesbanco Bank Inc. bought a new position in shares of Waste Management in the 4th quarter worth approximately $215,000. Finally, First National Trust Co lifted its stake in shares of Waste Management by 19.8% in the 4th quarter. First National Trust Co now owns 18,600 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 3,073 shares during the period. 76.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (WM) opened at $86.66 on Wednesday. Waste Management, Inc. has a one year low of $70.08 and a one year high of $89.73. The company has a market cap of $37,586.52, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45.
Waste Management announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.465 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.43. 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%. Waste Management’s dividend payout ratio (DPR) is presently 42.18%.
In other Waste Management news, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the sale, the director now owns 30,673 shares in the company, valued at approximately $2,708,425.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jeff M. Harris sold 8,820 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $87.80, for a total transaction of $774,396.00. Following the sale, the vice president now owns 80,203 shares in the company, valued at approximately $7,041,823.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,291 shares of company stock worth $9,154,833. 0.19% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on WM shares. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, December 26th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Raymond James Financial upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday, February 16th. UBS Group upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Finally, Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Ten investment analysts have rated the stock with a buy rating, Waste Management presently has a consensus rating of “Buy” and a consensus price target of $90.13.
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About Waste Management
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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