Bessemer Group Inc. Cuts Stake in Waste Management, Inc. $WM

Bessemer Group Inc. reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 562,101 shares of the business services provider’s stock after selling 27,089 shares during the period. Bessemer Group Inc. owned about 0.14% of Waste Management worth $123,499,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC purchased a new stake in Waste Management during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its stake in Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors purchased a new stake in Waste Management during the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC purchased a new stake in Waste Management during the 4th quarter worth approximately $40,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO John J. Morris sold 7,979 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total value of $1,955,413.53. Following the completion of the transaction, the chief operating officer owned 98,656 shares in the company, valued at approximately $24,177,625.92. This represents a 7.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael J. Watson sold 17,251 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. The trade was a 28.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 47,490 shares of company stock worth $11,416,338. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Up 0.5%

Waste Management stock opened at $219.84 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $88.28 billion, a PE ratio of 31.81, a P/E/G ratio of 2.29 and a beta of 0.49. The stock’s fifty day moving average is $229.21 and its two-hundred day moving average is $222.92.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s dividend payout ratio is presently 54.70%.

Analysts Set New Price Targets

Several brokerages recently weighed in on WM. Royal Bank Of Canada upped their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Robert W. Baird raised their price target on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $255.67.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.