Redmond Asset Management LLC Purchases New Shares in Waste Management, Inc. (NYSE:WM)

Redmond Asset Management LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,596 shares of the business services provider’s stock, valued at approximately $2,138,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aberdeen Wealth Management LLC lifted its stake in shares of Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after buying an additional 46 shares during the period. Catalyst Financial Partners LLC raised its holdings in shares of Waste Management by 2.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock valued at $411,000 after buying an additional 48 shares during the period. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Waste Management by 1.9% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after buying an additional 49 shares during the period. Finally, Balboa Wealth Partners raised its holdings in shares of Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In related news, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total value of $152,868.87. Following the sale, the executive vice president now directly owns 45,542 shares in the company, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John A. Carroll sold 209 shares of the firm’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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,055 shares of company stock valued at $3,578,340 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Performance

Waste Management stock opened at $227.89 on Friday. The firm’s 50 day simple moving average is $213.43 and its 200-day simple moving average is $213.00. The company has a market cap of $91.63 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS 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, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is 44.12%.

Analyst Ratings Changes

Several research firms have issued reports on WM. Oppenheimer lifted their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Citigroup lifted their target price on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Finally, StockNews.com lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.94.

Waste Management Profile

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.