Octavia Wealth Advisors LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 3.7% during the 4th quarter, HoldingsChannel reports. The firm owned 18,591 shares of the business services provider’s stock after purchasing an additional 661 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Waste Management were worth $3,103,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of WM. Morgan Stanley boosted its holdings in shares of Waste Management by 6.9% during the 2nd quarter. Morgan Stanley now owns 3,708,763 shares of the business services provider’s stock worth $519,634,000 after purchasing an additional 239,990 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Waste Management by 15.0% in the second quarter. Thrivent Financial for Lutherans now owns 177,968 shares of the business services provider’s stock valued at $24,935,000 after acquiring an additional 23,256 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in Waste Management by 53.0% in the third quarter. NEXT Financial Group Inc now owns 3,260 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 1,129 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Waste Management by 34.8% in the third quarter. Pacer Advisors Inc. now owns 41,205 shares of the business services provider’s stock valued at $6,154,000 after acquiring an additional 10,632 shares during the last quarter. Finally, Annex Advisory Services LLC acquired a new position in Waste Management in the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 74.38% of the company’s stock.
In other news, Director John C. Pope sold 195 shares of the company’s stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $155.41, for a total transaction of $30,304.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tara J. Hemmer sold 10,910 shares of the company’s stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $142.15, for a total value of $1,550,856.50. The disclosure for this sale can be found here. Insiders have sold 40,223 shares of company stock valued at $6,180,911 in the last 90 days. Company insiders own 0.16% of the company’s stock.
A number of research analysts recently commented on the company. JPMorgan Chase & Co. initiated coverage on Waste Management in a report on Tuesday, March 1st. They issued a “neutral” rating and a $153.00 price objective on the stock. Erste Group cut Waste Management to a “hold” rating in a research note on Wednesday, February 9th. Finally, StockNews.com initiated coverage on Waste Management in a research note on Thursday. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Buy” and an average price target of $151.88.
Shares of Waste Management stock traded up $0.92 during trading hours on Friday, reaching $159.42. 16,613 shares of the company were exchanged, compared to its average volume of 2,109,170. The firm has a market cap of $66.09 billion, a PE ratio of 36.86, a PEG ratio of 2.67 and a beta of 0.86. The stock’s fifty day moving average is $149.52 and its 200 day moving average is $155.96. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.72 and a current ratio of 0.75. Waste Management, Inc. has a 1 year low of $127.94 and a 1 year high of $168.04.
Waste Management (NYSE:WM – Get Rating) last posted its earnings results on Wednesday, February 2nd. The business services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.62 billion. Waste Management had a return on equity of 28.14% and a net margin of 10.13%. Waste Management’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. Research analysts expect that Waste Management, Inc. will post 5.38 earnings per share for the current year.
Waste Management declared that its Board of Directors has authorized a share buyback program on Thursday, December 9th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 17th were paid a $0.65 dividend. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $2.60 dividend on an annualized basis and a yield of 1.63%. This is a boost from Waste Management’s previous quarterly dividend of $0.58. Waste Management’s payout ratio is currently 60.47%.
About Waste Management (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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