Strategic Financial Concepts LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Strategic Financial Concepts LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,112 shares of the business services provider’s stock, valued at approximately $3,251,000.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Swedbank AB grew its position in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Waste Management by 32.1% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock valued at $374,062,000 after purchasing an additional 437,613 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Waste Management by 138.0% in the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock worth $149,168,000 after purchasing an additional 416,579 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $224.94 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average price of $211.84 and a 200 day moving average price of $211.39. The firm has a market capitalization of $90.28 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Waste Management, Inc. has a 12-month low of $187.48 and a 12-month high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. Waste Management’s dividend payout ratio (DPR) is presently 44.12%.

Insiders Place Their Bets

In other Waste Management news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the completion of the transaction, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald J. Smith sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the sale, the vice president now directly owns 6,129 shares of the company’s stock, valued at approximately $1,349,728.38. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,055 shares of company stock valued at $3,578,340. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Raymond James upped their target price on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. CIBC lifted their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Scotiabank lifted their target price on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.50.

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.