Virtu Financial LLC Acquires New Stake in Waste Management, Inc. (NYSE:WM)

Virtu Financial LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,684 shares of the business services provider’s stock, valued at approximately $3,568,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WM. Checchi Capital Advisers LLC raised its stake in Waste Management by 0.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider’s stock valued at $1,366,000 after purchasing an additional 45 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in 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 worth $411,000 after buying an additional 48 shares in the last quarter. Maia Wealth LLC lifted its position in Waste Management by 4.1% during the 4th quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider’s stock valued at $259,000 after purchasing an additional 48 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Waste Management by 1.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,091 shares of the business services provider’s stock valued at $624,000 after acquiring an additional 49 shares during the period. Finally, Signaturefd LLC increased its stake in Waste Management by 0.6% during the 4th quarter. Signaturefd LLC now owns 8,511 shares of the business services provider’s stock worth $1,717,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WM. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Oppenheimer lifted their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup upped 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. Finally, Scotiabank upped their price objective on Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.65.

Insiders Place Their Bets

In related news, CAO John A. Carroll sold 209 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares in the company, valued at $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johnson Varkey sold 124 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total transaction of $29,135.04. Following the completion of the sale, the senior vice president now owns 8,491 shares in the company, valued at $1,995,045.36. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,577 shares of company stock worth $21,662,464 in the last quarter. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $224.76 on Friday. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $235.81. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The company has a market cap of $90.38 billion, a P/E ratio of 33.05, a PEG ratio of 2.71 and a beta of 0.75. The company has a 50-day moving average price of $222.69 and a 200 day moving average price of $215.82.

Waste Management (NYSE:WM) last released its 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%. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.825 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.47%. Waste Management’s payout ratio is presently 48.53%.

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.