Insider Selling: Waste Management, Inc. (NYSE:WM) EVP Sells $4,303,870.63 in Stock

Waste Management, Inc. (NYSE:WM) EVP John J. Morris sold 19,153 shares of Waste Management stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.71, for a total value of $4,303,870.63. Following the sale, the executive vice president now directly owns 85,257 shares of the company’s stock, valued at $19,158,100.47. This represents a 18.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Waste Management Stock Performance

NYSE:WM opened at $222.91 on Thursday. The stock has a market cap of $89.63 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The stock’s 50-day moving average is $219.61 and its 200-day moving average is $215.09. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $235.81.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share 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%. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.825 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, March 14th. Waste Management’s payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WM shares. Oppenheimer lifted their target price on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Citigroup raised their price target on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Scotiabank raised their price target on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group decreased their price target 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. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $236.65.

Hedge Funds Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider’s stock worth $781,000 after acquiring an additional 44 shares during the period. Ascent Group LLC lifted its stake in shares of Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock worth $1,520,000 after acquiring an additional 44 shares during the period. Aberdeen Wealth Management LLC lifted its stake in shares of Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares during the period. Checchi Capital Advisers LLC lifted its stake in shares of Waste Management by 0.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider’s stock worth $1,366,000 after acquiring an additional 45 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its stake in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

About Waste Management

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.