Short Interest in Waste Management, Inc. (NYSE:WM) Declines By 17.3%

Waste Management, Inc. (NYSE:WM) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 4,447,387 shares, a decline of 17.3% from the November 30th total of 5,378,171 shares. Based on an average daily volume of 2,098,584 shares, the short-interest ratio is presently 2.1 days. Currently, 1.1% of the company’s shares are short sold. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 2,098,584 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

WM has been the topic of several research analyst reports. Sanford C. Bernstein started coverage on Waste Management in a research report on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 price objective on the stock. Scotiabank lowered their price target on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 29th. Citigroup lifted their target price on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company initiated coverage on Waste Management in a research report on Friday, November 14th. They set an “overweight” rating and a $238.00 price target on the stock. Finally, Royal Bank Of Canada lowered their price target on Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Price Performance

NYSE WM traded down $2.36 during trading hours on Wednesday, reaching $219.76. The company’s stock had a trading volume of 1,035,409 shares, compared to its average volume of 1,752,492. The firm has a market capitalization of $88.53 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.74 and a beta of 0.58. Waste Management has a 1-year low of $194.11 and a 1-year high of $242.58. The company’s 50-day moving average is $212.07 and its two-hundred day moving average is $220.25. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the business earned $1.96 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that Waste Management will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is 51.97%.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This trade represents a 8.16% 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 hyperlink. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Waste Management during the second quarter worth $1,064,206,000. Vontobel Holding Ltd. boosted its stake in shares of Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock valued at $487,157,000 after purchasing an additional 1,800,728 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Waste Management by 15,782.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after purchasing an additional 1,717,603 shares in the last quarter. Sustainable Growth Advisers LP lifted its holdings in Waste Management by 55.5% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after buying an additional 1,034,258 shares in the last quarter. Finally, Capital International Investors boosted its position in Waste Management by 218.3% in the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after buying an additional 939,455 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

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.