Naples Global Advisors LLC Increases Stake in Waste Management, Inc. $WM

Naples Global Advisors LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 29.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the business services provider’s stock after acquiring an additional 4,400 shares during the period. Naples Global Advisors LLC’s holdings in Waste Management were worth $4,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in Waste Management during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its holdings in Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new position in Waste Management during the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new position in Waste Management during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WM shares. Wells Fargo & Company lowered their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Royal Bank Of Canada upped their target price on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Citigroup lowered their target price on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, Oppenheimer upped their target price on shares of Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.67.

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 17,251 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were 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 owned 44,146 shares in the company, valued at $10,674,944.26. This represents a 28.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tara J. Hemmer sold 4,818 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the transaction, the senior vice president owned 78,918 shares of the company’s stock, valued at approximately $19,084,739.94. The trade was a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,569 shares of company stock worth $14,697,365 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Down 0.1%

Shares of Waste Management stock opened at $215.18 on Monday. The company has a fifty day simple moving average of $231.84 and a 200-day simple moving average of $222.91. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The stock has a market cap of $86.41 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.25 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a $0.945 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, March 13th. This represents a $3.78 annualized dividend and a yield of 1.8%. Waste Management’s payout ratio is currently 54.70%.

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.