Waste Management, Inc. $WM Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 24.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,806 shares of the business services provider’s stock after selling 4,140 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Waste Management were worth $2,814,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its position in shares of 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 purchasing an additional 67 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Waste Management during the third quarter worth about $30,000. Loomis Sayles & Co. L P acquired a new stake in shares of Waste Management during the second quarter valued at about $40,000. Holos Integrated Wealth LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $40,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Waste Management during the 3rd quarter worth approximately $41,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on WM shares. Citigroup cut their target price on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Barclays dropped their price objective on Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Scotiabank reissued a “sector perform” rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Royal Bank Of Canada raised their target price on Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $254.59.

Insider Activity at Waste Management

In related news, COO John J. Morris sold 7,979 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the completion of the transaction, the chief operating officer owned 98,656 shares in the company, valued at approximately $24,177,625.92. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of the firm’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 approximately $10,674,944.26. This represents a 28.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock worth $23,039,777 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Waste Management Trading Up 0.0%

NYSE:WM opened at $225.08 on Monday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The firm has a market cap of $90.78 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. The stock has a fifty day moving average price of $232.06 and a 200 day moving average price of $220.82.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.Waste Management’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.945 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, March 13th. Waste Management’s payout ratio is presently 56.42%.

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.