International Assets Investment Management LLC Sells 2,578,348 Shares of Waste Management, Inc. (NYSE:WM)

International Assets Investment Management LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 99.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,236 shares of the business services provider’s stock after selling 2,578,348 shares during the quarter. International Assets Investment Management LLC’s holdings in Waste Management were worth $2,654,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WM. Park National Corp OH raised its position in shares of Waste Management by 0.8% during the 4th quarter. Park National Corp OH now owns 208,515 shares of the business services provider’s stock valued at $42,076,000 after buying an additional 1,660 shares in the last quarter. First County Bank CT increased its stake in Waste Management by 8.7% during the fourth quarter. First County Bank CT now owns 1,132 shares of the business services provider’s stock worth $228,000 after acquiring an additional 91 shares during the last quarter. Insight Wealth Strategies LLC raised its position in Waste Management by 3.2% during the fourth quarter. Insight Wealth Strategies LLC now owns 11,611 shares of the business services provider’s stock valued at $2,343,000 after purchasing an additional 362 shares during the period. Iowa State Bank lifted its stake in shares of Waste Management by 2.7% in the 4th quarter. Iowa State Bank now owns 8,675 shares of the business services provider’s stock valued at $1,751,000 after purchasing an additional 228 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Waste Management by 2.6% during the 4th quarter. CWA Asset Management Group LLC now owns 4,663 shares of the business services provider’s stock valued at $941,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.7 %

Shares of WM traded up $1.45 during mid-day trading on Wednesday, hitting $204.84. The company’s stock had a trading volume of 248,559 shares, compared to its average volume of 1,280,307. The firm has a market capitalization of $82.22 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 2.36 and a beta of 0.77. The company’s 50-day moving average is $215.27 and its 200-day moving average is $211.45. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52-week low of $177.38 and a 52-week high of $230.39.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. On average, equities research analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Argus lifted their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Finally, BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Profile

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.