Procyon Advisors LLC Sells 6,584 Shares of Waste Management, Inc. $WM

Procyon Advisors LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 39.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,961 shares of the business services provider’s stock after selling 6,584 shares during the period. Procyon Advisors LLC’s holdings in Waste Management were worth $2,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC boosted its stake in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Waste Management during the third quarter worth $30,000. Loomis Sayles & Co. L P acquired a new position in Waste Management during the second quarter worth $40,000. Holos Integrated Wealth LLC bought a new position in shares of Waste Management during the fourth quarter valued at $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Waste Management in the 3rd quarter valued at $41,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the sale, the vice president directly owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the sale, the vice president owned 6,024 shares of the company’s stock, valued at approximately $1,406,483.52. The trade was a 66.93% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 98,042 shares of company stock worth $23,039,777. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Down 1.1%

Shares of NYSE:WM opened at $231.18 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The firm has a market cap of $93.24 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.44 and a beta of 0.57. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company’s 50-day moving average price is $231.38 and its two-hundred day moving average price is $220.63.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. Waste Management’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.78 annualized dividend and a yield of 1.6%. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s dividend payout ratio (DPR) is currently 56.42%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Citigroup reduced their target price on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Finally, Scotiabank restated a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.59.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.