Waste Management, Inc. (NYSE:WM) Shares Purchased by Toroso Investments LLC

Toroso Investments LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 31.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,849 shares of the business services provider’s stock after buying an additional 2,362 shares during the quarter. Toroso Investments LLC’s holdings in Waste Management were worth $1,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Community Bank & Trust Waco Texas raised its stake in Waste Management by 2.9% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 2,262 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 63 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of Waste Management by 3.5% in the 3rd quarter. Marcum Wealth LLC now owns 1,934 shares of the business services provider’s stock worth $310,000 after acquiring an additional 66 shares during the period. Allworth Financial LP grew its holdings in Waste Management by 0.7% during the 3rd quarter. Allworth Financial LP now owns 9,952 shares of the business services provider’s stock valued at $1,594,000 after buying an additional 66 shares during the last quarter. LWM Advisory Services LLC grew its holdings in Waste Management by 3.5% during the 3rd quarter. LWM Advisory Services LLC now owns 1,966 shares of the business services provider’s stock valued at $315,000 after buying an additional 66 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its holdings in Waste Management by 5.0% during the 3rd quarter. Revolve Wealth Partners LLC now owns 1,398 shares of the business services provider’s stock valued at $224,000 after buying an additional 67 shares during the last quarter. 78.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Waste Management news, Director John C. Pope sold 218 shares of Waste Management stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $154.76, for a total value of $33,737.68. Following the transaction, the director now owns 55,809 shares in the company, valued at $8,637,000.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Waste Management news, CAO Leslie K. Nagy sold 800 shares of Waste Management stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $151.11, for a total value of $120,888.00. Following the transaction, the chief accounting officer now owns 5,210 shares in the company, valued at $787,283.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Pope sold 218 shares of Waste Management stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $154.76, for a total transaction of $33,737.68. Following the completion of the transaction, the director now owns 55,809 shares in the company, valued at approximately $8,637,000.84. The disclosure for this sale can be found here. Insiders have sold a total of 31,027 shares of company stock valued at $4,806,619 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM opened at $153.15 on Friday. The business’s 50 day moving average is $152.41 and its 200-day moving average is $159.14. The stock has a market cap of $62.51 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 2.12. Waste Management, Inc. has a twelve month low of $138.89 and a twelve month high of $175.98.

Waste Management (NYSE:WM – Get Rating) last announced its earnings results on Wednesday, February 1st. The business services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Waste Management had a return on equity of 32.91% and a net margin of 11.36%. The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm earned $1.26 EPS. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 6.09 earnings per share for the current year.

Waste Management declared that its board has authorized a stock repurchase program on Thursday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.70 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $2.80 annualized dividend and a yield of 1.83%. Waste Management’s payout ratio is presently 51.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WM shares. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and reduced their price target for the stock from $185.00 to $171.00 in a research note on Monday, December 19th. Deutsche Bank Aktiengesellschaft cut their target price on Waste Management from $157.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, February 6th. BMO Capital Markets cut their target price on Waste Management from $167.00 to $158.00 and set a “market perform” rating on the stock in a research report on Thursday, February 2nd. StockNews.com assumed coverage on Waste Management in a research report on Thursday. They issued a “buy” rating on the stock. Finally, Morgan Stanley raised their price objective on Waste Management from $177.00 to $179.00 and gave the company an “equal weight” rating in a research report on Thursday, February 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Waste Management has a consensus rating of “Hold” and a consensus price target of $169.50.

Waste Management Profile

(Get Rating)

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada.