FourThought Financial LLC lessened its position in Waste Management, Inc. (NYSE:WM – Get Rating) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,857 shares of the business services provider’s stock after selling 251 shares during the period. FourThought Financial LLC’s holdings in Waste Management were worth $1,099,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Community Bank & Trust Waco Texas lifted its holdings in Waste Management by 2.9% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 2,262 shares of the business services provider’s stock valued at $362,000 after purchasing an additional 63 shares during the last quarter. Marcum Wealth LLC lifted its stake in shares of Waste Management by 3.5% during the 3rd quarter. Marcum Wealth LLC now owns 1,934 shares of the business services provider’s stock worth $310,000 after buying an additional 66 shares during the last quarter. Allworth Financial LP grew its stake in Waste Management by 0.7% in the 3rd quarter. Allworth Financial LP now owns 9,952 shares of the business services provider’s stock valued at $1,594,000 after buying an additional 66 shares during the last quarter. LWM Advisory Services LLC raised its holdings in Waste Management by 3.5% in the 3rd quarter. LWM Advisory Services LLC now owns 1,966 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 66 shares during the period. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of Waste Management by 5.0% during the third quarter. Revolve Wealth Partners LLC now owns 1,398 shares of the business services provider’s stock worth $224,000 after acquiring an additional 67 shares during the period. 78.48% of the stock is currently owned by institutional investors and hedge funds.
Waste Management Price Performance
Waste Management stock opened at $155.06 on Thursday. The stock has a fifty day moving average of $152.51 and a 200-day moving average of $159.30. The stock has a market capitalization of $63.29 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.77 and a current ratio of 0.81. Waste Management, Inc. has a 52 week low of $138.89 and a 52 week high of $175.98.
Waste Management Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, March 9th. This is a boost from Waste Management’s previous quarterly dividend of $0.65. Waste Management’s dividend payout ratio is presently 51.95%.
Waste Management declared that its board has initiated a share buyback plan on Thursday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Analysts Set New Price Targets
Several analysts recently issued reports on WM shares. Raymond James reduced their price target on Waste Management from $167.00 to $166.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. Citigroup dropped their price objective on shares of Waste Management from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, February 2nd. Morgan Stanley increased their target price on shares of Waste Management from $177.00 to $179.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 2nd. StockNews.com initiated coverage on shares of Waste Management in a research report on Thursday. They issued a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Waste Management from $157.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $169.50.
Insider Buying and Selling at Waste Management
In related news, EVP John J. Morris sold 15,204 shares of Waste Management stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $155.03, for a total transaction of $2,357,076.12. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $14,799,318.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Leslie K. Nagy sold 800 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $151.11, for a total value of $120,888.00. Following the sale, the chief accounting officer now directly owns 5,210 shares of the company’s stock, valued at approximately $787,283.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John J. Morris sold 15,204 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $155.03, for a total transaction of $2,357,076.12. Following the completion of the transaction, the executive vice president now owns 95,461 shares in the company, valued at approximately $14,799,318.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,027 shares of company stock worth $4,806,619. 0.18% of the stock is currently owned by insiders.
About Waste Management
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada.
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