Waste Management, Inc. $WM Shares Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 22.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,664 shares of the business services provider’s stock after purchasing an additional 2,503 shares during the period. AlphaCore Capital LLC’s holdings in Waste Management were worth $3,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock worth $1,250,613,000 after purchasing an additional 277,250 shares in the last quarter. Northern Trust Corp grew its stake in shares of Waste Management by 0.3% in the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock worth $873,276,000 after purchasing an additional 11,688 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Waste Management by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 3,530,900 shares of the business services provider’s stock worth $781,494,000 after purchasing an additional 236,439 shares in the last quarter. Finally, Sustainable Growth Advisers LP grew its stake in shares of Waste Management by 12.6% in the third quarter. Sustainable Growth Advisers LP now owns 3,262,148 shares of the business services provider’s stock worth $720,380,000 after purchasing an additional 364,512 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WM. Scotiabank reissued a “sector perform” rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Barclays increased their price target on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wolfe Research started coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.67.

Waste Management Trading Up 0.5%

NYSE:WM opened at $219.84 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $88.28 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.49. The stock has a fifty day simple moving average of $229.21 and a 200 day simple moving average of $222.92.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management’s dividend payout ratio is currently 54.70%.

Insider Transactions at Waste Management

In related news, VP Donald J. Smith sold 12,194 shares of the stock in a transaction dated 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 completion of the sale, the vice president directly owned 6,024 shares of the company’s stock, valued at approximately $1,406,483.52. This represents a 66.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tara J. Hemmer sold 4,818 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.83, for a total value of $1,165,136.94. Following the completion of the sale, the senior vice president directly owned 78,918 shares of the company’s stock, valued at approximately $19,084,739.94. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 47,490 shares of company stock worth $11,416,338. 0.18% of the stock is currently owned by company insiders.

Waste Management Profile

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.