Gray Wealth Management Inc. Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Gray Wealth Management Inc. trimmed its position in Waste Management, Inc. (NYSE:WM) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,103 shares of the business services provider’s stock after selling 45 shares during the quarter. Gray Wealth Management Inc.’s holdings in Waste Management were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WM. Swedbank AB lifted 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 valued at $366,537,000 after acquiring an additional 709,678 shares during the last quarter. Assetmark Inc. grew its position in Waste Management by 10.1% during the 3rd quarter. Assetmark Inc. now owns 2,077 shares of the business services provider’s stock worth $431,000 after purchasing an additional 191 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Waste Management by 26.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,464 shares of the business services provider’s stock worth $2,172,000 after buying an additional 2,198 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Waste Management by 7.3% in the third quarter. OneDigital Investment Advisors LLC now owns 13,258 shares of the business services provider’s stock valued at $2,752,000 after purchasing an additional 903 shares during the period. Finally, Signature Estate & Investment Advisors LLC raised its position in Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after buying an additional 46 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.8 %

NYSE:WM opened at $225.06 on Monday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $235.81. The firm has a market capitalization of $90.50 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The business’s 50-day moving average is $220.52 and its two-hundred day moving average is $215.35.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analysts Forecast Growth

WM has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Scotiabank raised their price objective on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James boosted their target price on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $236.65.

Insider Transactions at Waste Management

In other news, SVP Johnson Varkey sold 124 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total transaction of $29,135.04. Following the sale, the senior vice president now directly owns 8,491 shares in the company, valued at approximately $1,995,045.36. This represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John A. Carroll sold 1,251 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $225.92, for a total value of $282,625.92. Following the completion of the sale, the chief accounting officer now owns 8,420 shares in the company, valued at $1,902,246.40. The trade was a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,577 shares of company stock valued at $21,662,464. Insiders own 0.18% of the company’s stock.

Waste Management Company 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.