NewEdge Advisors LLC Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

NewEdge Advisors LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,923 shares of the business services provider’s stock after purchasing an additional 6,292 shares during the period. NewEdge Advisors LLC’s holdings in Waste Management were worth $10,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC lifted its stake in shares of Waste Management by 12.8% during the 3rd quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock worth $505,175,000 after purchasing an additional 276,287 shares during the period. McIlrath & Eck LLC lifted its position in Waste Management by 0.7% during the third quarter. McIlrath & Eck LLC now owns 12,706 shares of the business services provider’s stock worth $2,638,000 after buying an additional 84 shares during the period. Aldebaran Financial Inc. boosted its stake in Waste Management by 4.6% in the 3rd quarter. Aldebaran Financial Inc. now owns 11,210 shares of the business services provider’s stock worth $2,327,000 after buying an additional 489 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of Waste Management by 245.6% during the 3rd quarter. World Investment Advisors LLC now owns 9,413 shares of the business services provider’s stock valued at $1,954,000 after acquiring an additional 6,689 shares during the last quarter. Finally, Arvest Bank Trust Division purchased a new position in shares of Waste Management during the 3rd quarter worth about $562,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.6 %

Shares of NYSE WM opened at $230.84 on Friday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $239.32. The stock’s 50-day simple moving average is $227.81 and its 200-day simple moving average is $218.80. The firm has a market cap of $92.87 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.825 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.43%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is presently 48.53%.

Insider Transactions at Waste Management

In related news, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the transaction, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,577 shares of company stock valued at $21,662,464. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. Citigroup upped their price target on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group cut their target price on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley boosted their price target on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Raymond James raised their price objective on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, CIBC increased their target price on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.76.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.