Royal Fund Management LLC Boosts Stock Position in Waste Management, Inc. $WM

Royal Fund Management LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 138.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,808 shares of the business services provider’s stock after acquiring an additional 30,661 shares during the quarter. Waste Management comprises 1.1% of Royal Fund Management LLC’s investment portfolio, making the stock its 21st biggest holding. Royal Fund Management LLC’s holdings in Waste Management were worth $11,634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Vontobel Holding Ltd. lifted its holdings in shares of Waste Management by 444.3% during the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after purchasing an additional 1,800,728 shares during the period. Capital International Investors increased its stake in Waste Management by 218.3% in the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after buying an additional 939,455 shares during the period. Holocene Advisors LP increased its stake in Waste Management by 163.7% in the 3rd quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock valued at $309,317,000 after buying an additional 869,453 shares during the period. Assenagon Asset Management S.A. raised its position in Waste Management by 982.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after buying an additional 804,285 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Waste Management by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider’s stock worth $8,487,924,000 after acquiring an additional 774,255 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WM shares. Royal Bank Of Canada boosted their price target on shares of Waste Management from $223.00 to $235.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Wolfe Research began coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein boosted their target price on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Oppenheimer raised their price target on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Citigroup decreased 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 research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.59.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 17,251 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at $10,674,944.26. This trade represents a 28.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the transaction, the vice president owned 6,024 shares of the company’s stock, valued at $1,406,483.52. This represents a 66.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 98,042 shares of company stock valued at $23,039,777. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 2.1%

Waste Management stock opened at $229.79 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm has a market capitalization of $92.68 billion, a price-to-earnings ratio of 34.30, a price-to-earnings-growth ratio of 2.38 and a beta of 0.57. The stock’s fifty day moving average is $232.23 and its two-hundred day moving average is $220.89. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion during 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share. Analysts predict 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 27th. Shareholders of record on Friday, March 13th were issued a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. This is a boost from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, March 13th. Waste Management’s payout ratio is currently 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.