Perigon Wealth Management LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 48.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,496 shares of the business services provider’s stock after acquiring an additional 818 shares during the quarter. Perigon Wealth Management LLC’s holdings in Waste Management were worth $400,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WM. Vanguard Group Inc. grew its stake in shares of Waste Management by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,984,227 shares of the business services provider’s stock valued at $5,925,244,000 after acquiring an additional 1,016,798 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Waste Management by 194.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider’s stock worth $192,988,000 after purchasing an additional 804,708 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Waste Management by 3,120.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 600,443 shares of the business services provider’s stock worth $96,197,000 after purchasing an additional 581,797 shares in the last quarter. Amundi lifted its holdings in Waste Management by 18.8% in the 2nd quarter. Amundi now owns 3,194,558 shares of the business services provider’s stock worth $482,604,000 after purchasing an additional 504,966 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Waste Management by 21.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,605,293 shares of the business services provider’s stock worth $417,394,000 after purchasing an additional 461,425 shares in the last quarter. 78.48% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Waste Management
In other Waste Management news, CAO Leslie K. Nagy sold 800 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $151.11, for a total value of $120,888.00. Following the transaction, the chief accounting officer now owns 5,210 shares of the company’s stock, valued at approximately $787,283.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John C. Pope sold 218 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $154.76, for a total transaction of $33,737.68. Following the transaction, the director now owns 55,809 shares of the company’s stock, valued at approximately $8,637,000.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Leslie K. Nagy sold 800 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $151.11, for a total value of $120,888.00. Following the transaction, the chief accounting officer now directly owns 5,210 shares in the company, valued at approximately $787,283.10. The disclosure for this sale can be found here. Insiders have sold 31,027 shares of company stock valued at $4,806,619 in the last quarter. 0.18% of the stock is owned by insiders.
Waste Management Stock Performance
Waste Management (NYSE:WM – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The business services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Waste Management had a net margin of 11.36% and a return on equity of 32.91%. The company had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 6.09 earnings per share for the current year.
Waste Management declared that its board has initiated a share repurchase program on Thursday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
Waste Management Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from Waste Management’s previous quarterly dividend of $0.65. Waste Management’s dividend payout ratio is 51.95%.
Analyst Ratings Changes
WM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Waste Management from $157.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, February 6th. Morgan Stanley upped their price objective on Waste Management from $177.00 to $179.00 and gave the stock an “equal weight” rating in a report on Thursday, February 2nd. Citigroup decreased their price objective on Waste Management from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, February 2nd. Stifel Nicolaus cut Waste Management from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $185.00 to $171.00 in a report on Monday, December 19th. Finally, Raymond James decreased their price objective on Waste Management from $167.00 to $166.00 and set an “outperform” rating on the stock in a report on Monday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.50.
Waste Management Company Profile
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Waste Management (WM)
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
- Europe Raises Interest Rates, Should the Fed Follow?
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.
