PGGM Investments lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 28.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 620,854 shares of the business services provider’s stock after selling 245,546 shares during the quarter. PGGM Investments owned approximately 0.15% of Waste Management worth $70,753,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Howe & Rusling Inc. grew its holdings in shares of Waste Management by 139.6% during the third quarter. Howe & Rusling Inc. now owns 218 shares of the business services provider’s stock valued at $25,000 after buying an additional 127 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of Waste Management by 146.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 273,777 shares of the business services provider’s stock valued at $34,000 after buying an additional 162,829 shares in the last quarter. American National Bank purchased a new position in shares of Waste Management during the fourth quarter valued at $41,000. Price Capital Management Inc. purchased a new position in shares of Waste Management during the fourth quarter valued at $46,000. Finally, Selective Wealth Management Inc. purchased a new position in shares of Waste Management during the third quarter valued at $57,000. Institutional investors and hedge funds own 72.62% of the company’s stock.
In related news, SVP Tara J. Hmmer sold 4,639 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.36, for a total transaction of $511,960.04. Following the completion of the transaction, the senior vice president now owns 25,405 shares of the company’s stock, valued at approximately $2,803,695.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James C. Fish, Jr. sold 3,158 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $110.97, for a total value of $350,443.26. Following the transaction, the chief executive officer now directly owns 245,329 shares of the company’s stock, valued at approximately $27,224,159.13. The disclosure for this sale can be found here. Insiders sold 8,797 shares of company stock valued at $974,403 in the last ninety days. Insiders own 0.14% of the company’s stock.
NYSE WM traded up $0.16 on Friday, reaching $119.65. The stock had a trading volume of 22,141 shares, compared to its average volume of 1,670,542. The business has a 50 day moving average price of $113.73 and a 200 day moving average price of $115.05. The company has a current ratio of 1.86, a quick ratio of 1.82 and a debt-to-equity ratio of 1.94. Waste Management, Inc. has a 1 year low of $92.49 and a 1 year high of $121.77. The company has a market capitalization of $50.15 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 3.08 and a beta of 0.60.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.512 dividend. The ex-dividend date was Thursday, December 5th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.71%. Waste Management’s dividend payout ratio is currently 48.81%.
WM has been the topic of a number of research analyst reports. CIBC initiated coverage on Waste Management in a report on Tuesday, December 17th. They set an “outperform” rating and a $130.00 price target on the stock. Deutsche Bank initiated coverage on Waste Management in a report on Friday. They set a “hold” rating and a $123.00 price target on the stock. Jefferies Financial Group initiated coverage on Waste Management in a report on Wednesday, November 27th. They set a “hold” rating and a $120.00 price target on the stock. Bank of America downgraded Waste Management from a “buy” rating to a “neutral” rating in a report on Friday, October 18th. Finally, ValuEngine downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.42.
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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