First Hawaiian Bank decreased its holdings in Waste Management, Inc. (NYSE:WM) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,132 shares of the business services provider’s stock after selling 301 shares during the quarter. First Hawaiian Bank’s holdings in Waste Management were worth $2,148,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Highwater Wealth Management LLC bought a new stake in shares of Waste Management in the 4th quarter worth about $81,000. Point72 Hong Kong Ltd grew its holdings in shares of Waste Management by 1,095.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,194 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in shares of Waste Management in the 3rd quarter worth about $112,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Waste Management by 15.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after purchasing an additional 14,720 shares during the last quarter. Finally, Vigilant Capital Management LLC grew its holdings in Waste Management by 200.0% during the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 74.57% of the company’s stock.
WM has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Monday, November 26th. UBS Group set a $90.00 price objective on shares of Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. Raymond James reissued a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Oppenheimer reissued a “buy” rating and set a $95.00 price objective on shares of Waste Management in a report on Thursday, October 25th. Finally, Goldman Sachs Group raised shares of Waste Management from a “sell” rating to a “buy” rating and increased their price objective for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. Seven equities research analysts have rated the stock with a buy rating, Waste Management currently has an average rating of “Buy” and a consensus target price of $98.67.
Shares of NYSE:WM opened at $93.65 on Friday. Waste Management, Inc. has a 12 month low of $78.39 and a 12 month high of $95.49. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. The stock has a market cap of $39.17 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 1.68 and a beta of 0.65.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. Analysts expect that Waste Management, Inc. will post 4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were paid a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 29th. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.
Waste Management declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 13th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, CFO Devina A. Rankin sold 8,107 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the transaction, the chief financial officer now owns 21,373 shares of the company’s stock, valued at approximately $2,017,824.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff M. Harris sold 24,500 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $2,205,000.00. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.
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About Waste Management
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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