Waste Management, Inc. (NYSE:WM) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its stake in Waste Management, Inc. (NYSE:WMFree Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,526 shares of the business services provider’s stock after acquiring an additional 1,851 shares during the quarter. DAVENPORT & Co LLC’s holdings in Waste Management were worth $5,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WM. Colonial River Wealth Management LLC acquired a new position in Waste Management in the 4th quarter valued at about $481,000. LMG Wealth Partners LLC grew its holdings in shares of Waste Management by 9.7% in the fourth quarter. LMG Wealth Partners LLC now owns 7,435 shares of the business services provider’s stock valued at $1,332,000 after purchasing an additional 657 shares in the last quarter. Buck Wealth Strategies LLC increased its stake in Waste Management by 10.8% during the 4th quarter. Buck Wealth Strategies LLC now owns 43,433 shares of the business services provider’s stock worth $7,779,000 after buying an additional 4,234 shares during the period. Regent Peak Wealth Advisors LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $202,000. Finally, TIAA Trust National Association grew its stake in shares of Waste Management by 0.8% in the fourth quarter. TIAA Trust National Association now owns 18,709 shares of the business services provider’s stock worth $3,351,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WM shares. Royal Bank of Canada increased their price objective on Waste Management from $163.00 to $189.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $190.00 to $205.00 in a research report on Wednesday, February 14th. BMO Capital Markets raised their target price on shares of Waste Management from $184.00 to $196.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Citigroup increased their price target on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Oppenheimer boosted their price objective on shares of Waste Management from $188.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $201.57.

Get Our Latest Analysis on Waste Management

Waste Management Trading Down 0.3 %

NYSE:WM opened at $210.42 on Thursday. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a fifty day moving average price of $202.29 and a two-hundred day moving average price of $180.75. The stock has a market capitalization of $84.50 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 3.20 and a beta of 0.72.

Waste Management (NYSE:WMGet Free Report) last announced its quarterly earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.21. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $1.30 EPS. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is currently 53.00%.

Insider Buying and Selling

In related news, CEO James C. Fish, Jr. sold 9,550 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $182.00, for a total value of $1,738,100.00. Following the sale, the chief executive officer now directly owns 152,838 shares of the company’s stock, valued at approximately $27,816,516. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John C. Pope sold 185 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $181.00, for a total value of $33,485.00. Following the completion of the transaction, the director now owns 56,461 shares of the company’s stock, valued at approximately $10,219,441. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 9,550 shares of Waste Management stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $182.00, for a total transaction of $1,738,100.00. Following the sale, the chief executive officer now owns 152,838 shares of the company’s stock, valued at $27,816,516. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,242 shares of company stock valued at $5,929,355. 0.27% of the stock is owned by insiders.

Waste Management Company Profile

(Free Report)

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.

Further Reading

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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