Clearbridge Investments LLC Sells 74,961 Shares of Waste Management, Inc. $WM

Clearbridge Investments LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,506,121 shares of the business services provider’s stock after selling 74,961 shares during the quarter. Clearbridge Investments LLC owned about 0.62% of Waste Management worth $550,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Broadway Wealth Solutions Inc. boosted its stake in Waste Management by 2.8% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after acquiring an additional 44 shares during the last quarter. San Luis Wealth Advisors LLC lifted its stake in Waste Management by 2.4% in the fourth quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock valued at $422,000 after buying an additional 45 shares in the last quarter. Birch Hill Investment Advisors LLC lifted its stake in Waste Management by 0.7% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after buying an additional 45 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in Waste Management by 1.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after buying an additional 45 shares in the last quarter. Finally, Old Port Advisors lifted its stake in Waste Management by 0.3% in the fourth quarter. Old Port Advisors now owns 16,963 shares of the business services provider’s stock valued at $3,727,000 after buying an additional 46 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, COO John J. Morris sold 4,211 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $243.38, for a total value of $1,024,873.18. Following the transaction, the chief operating officer directly owned 99,929 shares in the company, valued at $24,320,720.02. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Johnson Varkey sold 121 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the transaction, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,515 shares of company stock worth $1,099,450. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $220.45 on Friday. The company’s fifty day simple moving average is $223.62 and its 200-day simple moving average is $224.46. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a market cap of $88.53 billion, a PE ratio of 31.90, a P/E/G ratio of 2.30 and a beta of 0.45. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Equities research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Robert W. Baird lifted their price target on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Wolfe Research assumed coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Waste Management Profile

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.