Mystic Asset Management Inc. Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Mystic Asset Management Inc. increased its holdings in Waste Management, Inc. (NYSE:WM) by 179.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,367 shares of the business services provider’s stock after buying an additional 13,067 shares during the period. Waste Management comprises about 1.1% of Mystic Asset Management Inc.’s holdings, making the stock its 21st largest position. Mystic Asset Management Inc.’s holdings in Waste Management were worth $4,110,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Activest Wealth Management raised its holdings in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Global Wealth Strategies & Associates increased its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in Waste Management in the 4th quarter valued at about $29,000. Halbert Hargrove Global Advisors LLC purchased a new position in Waste Management in the 4th quarter valued at about $33,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $35,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 1.4 %

NYSE WM opened at $228.02 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $235.81. The business has a 50 day moving average price of $221.05 and a two-hundred day moving average price of $215.47. The stock has a market cap of $91.69 billion, a PE ratio of 33.53, a P/E/G ratio of 2.71 and a beta of 0.75.

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%. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.825 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. Waste Management’s payout ratio is 48.53%.

Insider Activity at Waste Management

In other Waste Management news, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at $1,999,506.30. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction 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 completion of the sale, the senior vice president now owns 8,491 shares of the company’s stock, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WM shares. Stifel Nicolaus boosted their price target on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Oppenheimer raised their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Jefferies Financial Group dropped their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Citigroup boosted their price objective on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James increased 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. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $236.65.

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.