Global Assets Advisory LLC Reduces Holdings in Waste Management, Inc. (NYSE:WM)

Global Assets Advisory LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 13.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,237 shares of the business services provider’s stock after selling 355 shares during the quarter. Global Assets Advisory LLC’s holdings in Waste Management were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of WM. Transce3nd LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $33,000. Hurley Capital LLC purchased a new position in shares of Waste Management during the fourth quarter worth approximately $34,000. Sugar Maple Asset Management LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $35,000. Finally, Richardson Financial Services Inc. raised its position in Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $233.03 on Friday. The business has a 50 day moving average price of $228.54 and a 200 day moving average price of $221.09. The company has a market capitalization of $93.77 billion, a P/E ratio of 34.27, a PEG ratio of 2.71 and a beta of 0.67. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared 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 of this dividend was Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.42%. Waste Management’s dividend payout ratio is currently 49.77%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Citigroup upped their price objective on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. CIBC lifted their target price on Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Robert W. Baird upped their price target on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Raymond James lifted their price objective on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.29.

Insider Buying and Selling

In related news, CAO John A. Carroll sold 1,251 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $225.92, for a total value of $282,625.92. Following the completion of the transaction, the chief accounting officer now owns 8,420 shares of the company’s stock, valued at approximately $1,902,246.40. The trade was a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Devina A. Rankin sold 4,126 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $228.11, for a total transaction of $941,181.86. Following the completion of the transaction, the chief financial officer now owns 62,639 shares in the company, valued at approximately $14,288,582.29. This trade represents a 6.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,522 shares of company stock worth $18,084,124 in the last ninety days. Insiders own 0.18% of the company’s stock.

Waste Management Company 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.