HighTower Advisors LLC Decreases Holdings in Waste Management, Inc. $WM

HighTower Advisors LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 296,820 shares of the business services provider’s stock after selling 3,968 shares during the period. HighTower Advisors LLC’s holdings in Waste Management were worth $65,214,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WM. Brighton Jones LLC boosted its holdings in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. purchased a new position in Waste Management during the 1st quarter worth approximately $325,000. Sei Investments Co. grew its stake in Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after buying an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after buying an additional 148,590 shares during the last quarter. Finally, Glenview Trust co grew its stake in Waste Management by 5.1% during the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WM. JPMorgan Chase & Co. raised their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings upgraded Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Barclays lifted their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Scotiabank restated a “sector perform” rating and issued a $250.00 price objective (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Insider Activity

In related news, COO John J. Morris sold 4,211 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the sale, the chief operating officer owned 99,929 shares in the company, valued at $24,320,720.02. This trade represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares of the company’s stock, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,296 shares of company stock worth $8,569,283 in the last three months. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Waste Management stock opened at $219.37 on Thursday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a 50 day simple moving average of $227.72 and a 200-day simple moving average of $223.42. The stock has a market capitalization of $88.10 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.49.

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, topping the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is presently 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.