DAVENPORT & Co LLC Grows Holdings in Waste Management, Inc. (NYSE:WM)

DAVENPORT & Co LLC raised its position in shares of Waste Management, Inc. (NYSE:WMFree Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,526 shares of the business services provider’s stock after purchasing an additional 1,851 shares during the quarter. DAVENPORT & Co LLC’s holdings in Waste Management were worth $5,467,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Indiana Trust & Investment Management CO purchased a new position in Waste Management in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Waste Management during the first quarter worth $29,000. Gilfoyle & Co LLC bought a new stake in Waste Management in the 4th quarter valued at $30,000. KB Financial Partners LLC purchased a new stake in Waste Management in the 1st quarter worth $33,000. Finally, State of Wyoming bought a new position in shares of Waste Management during the 4th quarter valued at about $34,000. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Waste Management news, VP Donald J. Smith sold 329 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total value of $65,326.24. Following the completion of the sale, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Waste Management news, VP Donald J. Smith sold 329 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the transaction, the vice president now owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Pope sold 185 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $181.00, for a total transaction of $33,485.00. Following the transaction, the director now owns 56,461 shares in the company, valued at $10,219,441. The disclosure for this sale can be found here. Insiders have sold 30,242 shares of company stock worth $5,929,355 in the last ninety days. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 16th. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. HSBC downgraded shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 target price on the stock. in a report on Thursday, February 15th. Finally, UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $190.00 to $205.00 in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.57.

Check Out Our Latest Analysis on Waste Management

Waste Management Price Performance

WM opened at $210.42 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The business has a fifty day moving average of $202.29 and a 200 day moving average of $180.75. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The stock has a market cap of $84.50 billion, a P/E ratio of 37.18, a PEG ratio of 3.20 and a beta of 0.72.

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

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a 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 53.00%.

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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