Brinker Capital Inc. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,860 shares of the business services provider’s stock after purchasing an additional 4,566 shares during the period. Brinker Capital Inc.’s holdings in Waste Management were worth $6,217,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in Waste Management during the 4th quarter worth approximately $26,000. We Are One Seven LLC purchased a new position in Waste Management during the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in Waste Management during the 4th quarter worth approximately $27,000. Gantzert Investment Co. LLC ADV purchased a new position in Waste Management during the 4th quarter worth approximately $31,000. Finally, Athena Capital Advisors LLC purchased a new position in Waste Management during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 74.40% of the company’s stock.
Several equities analysts have recently commented on WM shares. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Monday, November 26th. Goldman Sachs Group upgraded shares of Waste Management from a “sell” rating to a “buy” rating and boosted their price target for the company from $84.00 to $107.00 in a report on Tuesday, December 4th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $103.00 in a report on Thursday, January 10th. Oppenheimer boosted their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Finally, KeyCorp started coverage on shares of Waste Management in a report on Monday, February 4th. They set an “overweight” rating and a $96.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Waste Management has an average rating of “Buy” and a consensus target price of $101.00.
In related news, SVP Tara J. Hmmer sold 472 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.81, for a total value of $46,638.32. Following the completion of the sale, the senior vice president now directly owns 17,208 shares in the company, valued at $1,700,322.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick W. Gross sold 365 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total transaction of $33,955.95. Following the completion of the sale, the director now owns 53,058 shares of the company’s stock, valued at $4,935,985.74. The disclosure for this sale can be found here. Insiders sold 4,092 shares of company stock valued at $402,648 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.
Waste Management stock opened at $100.97 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. Waste Management, Inc. has a 12 month low of $79.96 and a 12 month high of $101.78. The firm has a market cap of $43.05 billion, a PE ratio of 24.04, a P/E/G ratio of 2.49 and a beta of 0.67.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.06 by $0.07. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. Waste Management’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. As a group, equities analysts expect that Waste Management, Inc. will post 4.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a $0.5125 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 dividend on an annualized basis and a yield of 2.03%. Waste Management’s dividend payout ratio is currently 48.81%.
Waste Management announced that its Board of Directors has initiated a share buyback program on Thursday, December 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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