Highland Capital Management LLC Takes $9.87 Million Position in Waste Management, Inc. $WM

Highland Capital Management LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 44,686 shares of the business services provider’s stock, valued at approximately $9,868,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Sprott Inc. purchased a new position in shares of Waste Management during the 1st quarter valued at $325,000. Redwood Investment Management LLC acquired a new position in shares of Waste Management in the first quarter worth $218,000. Ieq Capital LLC raised its holdings in shares of Waste Management by 6.1% during the first quarter. Ieq Capital LLC now owns 25,061 shares of the business services provider’s stock worth $5,802,000 after acquiring an additional 1,441 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its position in Waste Management by 47.4% during the first quarter. CreativeOne Wealth LLC now owns 4,755 shares of the business services provider’s stock valued at $1,101,000 after purchasing an additional 1,529 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. CIBC cut their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 target price for the company. Oppenheimer increased their price target on shares of Waste Management from $262.00 to $263.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Finally, Sanford C. Bernstein began coverage on shares of Waste Management in a report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $248.95.

Waste Management Trading Up 0.5%

NYSE:WM opened at $221.39 on Friday. The company’s 50 day moving average is $211.68 and its 200-day moving average is $220.73. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The firm has a market cap of $89.19 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.73 and a beta of 0.58.

Waste Management (NYSE:WM) last posted 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). The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s payout ratio is currently 51.97%.

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.