Waste Management, Inc. (NYSE:WM) Shares Sold by LGT Group Foundation

LGT Group Foundation lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,421 shares of the business services provider’s stock after selling 832 shares during the period. LGT Group Foundation’s holdings in Waste Management were worth $2,305,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management boosted its position in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. purchased a new stake in Waste Management during the fourth quarter worth $29,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management during the fourth quarter worth $33,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Waste Management during the fourth quarter worth $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $233.53 on Tuesday. The firm has a market capitalization of $93.91 billion, a PE ratio of 34.34, a P/E/G 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. The business has a 50-day moving average of $216.31 and a two-hundred day moving average of $214.21. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $235.81.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 1.41%. Waste Management’s dividend payout ratio is currently 48.53%.

Insiders Place Their Bets

In other news, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the completion of the sale, the executive vice president now owns 45,542 shares in the company, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Johnson Varkey sold 560 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the completion of the sale, the senior vice president now owns 9,152 shares of the company’s stock, valued at approximately $2,014,446.72. This trade represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,192 shares of company stock worth $15,025,861 over the last three months. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on WM. Morgan Stanley boosted their target price on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Oppenheimer upped their price objective on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Citigroup upped their price objective on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group reduced their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Nine investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.94.

Waste Management Company 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.