Van ECK Associates Corp Lowers Stake in Waste Management, Inc. (NYSE:WM)

Van ECK Associates Corp cut its position in Waste Management, Inc. (NYSE:WM) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,570 shares of the business services provider’s stock after selling 9,631 shares during the period. Van ECK Associates Corp’s holdings in Waste Management were worth $8,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilfoyle & Co LLC bought a new position in Waste Management in the 4th quarter worth approximately $30,000. Millburn Ridgefield Corp purchased a new position in Waste Management during the third quarter valued at $35,000. Rational Advisors LLC bought a new stake in Waste Management in the 3rd quarter valued at $41,000. Janiczek Wealth Management LLC boosted its holdings in shares of Waste Management by 127.3% during the 4th quarter. Janiczek Wealth Management LLC now owns 300 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 168 shares during the last quarter. Finally, Annapolis Financial Services LLC grew its position in shares of Waste Management by 40.1% during the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 93 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM opened at $207.88 on Friday. The firm has a 50 day moving average of $208.93 and a 200 day moving average of $188.30. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $83.38 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.70 and a beta of 0.72. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 7.26 earnings per share for the current fiscal 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is 49.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WM shares. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $190.00 to $205.00 in a research report on Wednesday, February 14th. Truist Financial increased their price objective on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer increased their price target on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, HSBC cut Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price objective on the stock. in a research note on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $216.24.

Insider Activity at Waste Management

In related news, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares in the company, valued at approximately $6,217,331.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Waste Management news, EVP John J. Morris sold 8,889 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the transaction, the executive vice president now owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The disclosure for this sale can be found here. Insiders sold 18,007 shares of company stock valued at $3,696,520 over the last 90 days. Insiders own 0.18% of the company’s stock.

About Waste Management

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.