IHT Wealth Management LLC increased its stake in Waste Management, Inc. (NYSE:WM) by 75.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,763 shares of the business services provider’s stock after buying an additional 2,042 shares during the quarter. IHT Wealth Management LLC’s holdings in Waste Management were worth $424,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in Waste Management by 6.0% in the third quarter. Alliancebernstein L.P. now owns 713,150 shares of the business services provider’s stock worth $64,440,000 after buying an additional 40,236 shares during the last quarter. BlackRock Inc. grew its stake in Waste Management by 0.5% during the 3rd quarter. BlackRock Inc. now owns 30,633,601 shares of the business services provider’s stock worth $2,768,051,000 after buying an additional 149,599 shares during the last quarter. American International Group Inc. grew its stake in Waste Management by 4.1% during the 3rd quarter. American International Group Inc. now owns 176,972 shares of the business services provider’s stock worth $15,991,000 after buying an additional 7,025 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in Waste Management by 119.8% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 76,757 shares of the business services provider’s stock worth $6,936,000 after buying an additional 41,832 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Waste Management by 6.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 159,790 shares of the business services provider’s stock worth $14,439,000 after buying an additional 9,908 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.
In other news, CFO Devina A. Rankin sold 692 shares of Waste Management stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.80, for a total value of $68,369.60. Following the completion of the sale, the chief financial officer now owns 22,128 shares of the company’s stock, valued at $2,186,246.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 365 shares of the business’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $93.03, for a total value of $33,955.95. Following the sale, the director now directly owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,092 shares of company stock valued at $402,648. Company insiders own 0.30% of the company’s stock.
Waste Management stock traded up $2.47 during mid-day trading on Monday, reaching $104.26. 2,838,428 shares of the company were exchanged, compared to its average volume of 1,849,965. Waste Management, Inc. has a twelve month low of $79.96 and a twelve month high of $105.68. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $42.71 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.63 and a beta of 0.67.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. Equities analysts predict that Waste Management, Inc. will post 4.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.5125 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s payout ratio is currently 48.81%.
A number of research firms recently issued reports on WM. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Monday. KeyCorp assumed coverage on Waste Management in a research report on Monday, February 4th. They set an “overweight” rating and a $96.00 price objective for the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $103.00 to $106.00 in a research report on Thursday, April 4th. Finally, Oppenheimer increased their price objective on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $101.71.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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