Waste Management, Inc. $WM Holdings Cut by Morgan Stanley Institutional Investment Advisors LLC

Morgan Stanley Institutional Investment Advisors LLC lowered its stake in Waste Management, Inc. (NYSE:WM) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584,799 shares of the business services provider’s stock after selling 23,661 shares during the period. Waste Management accounts for 42.1% of Morgan Stanley Institutional Investment Advisors LLC’s portfolio, making the stock its 2nd largest position. Morgan Stanley Institutional Investment Advisors LLC owned 0.39% of Waste Management worth $349,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Waste Management during the 1st quarter worth $325,000. Everett Harris & Co. CA raised its position in Waste Management by 14.4% in the second quarter. Everett Harris & Co. CA now owns 3,837 shares of the business services provider’s stock worth $878,000 after acquiring an additional 484 shares in the last quarter. Geode Capital Management LLC raised its position in Waste Management by 1.5% during the second quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after acquiring an additional 126,329 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new stake in Waste Management during the second quarter worth about $94,796,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE WM opened at $238.91 on Friday. The business’s 50-day moving average price is $229.41 and its two-hundred day moving average price is $220.29. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a market capitalization of $96.36 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 2.50 and a beta of 0.57. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same quarter last year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. 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 disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $0.945 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s payout ratio is 49.25%.

Analysts Set New Price Targets

Several research firms have recently commented on WM. Wells Fargo & Company increased their target price on Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. TD Cowen boosted their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Stifel Nicolaus lifted their target price on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Oppenheimer boosted their target price on Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, Citigroup cut their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $253.55.

Insider Activity

In related news, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total value of $2,847,055.12. Following the sale, the vice president owned 6,024 shares of the company’s stock, valued at approximately $1,406,483.52. The trade was a 66.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John J. Morris sold 7,979 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer directly owned 98,656 shares in the company, valued at approximately $24,177,625.92. This trade represents a 7.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 98,042 shares of company stock valued at $23,039,777. 0.18% of the stock is owned by insiders.

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.