Family Legacy Inc. Has $3.02 Million Holdings in Waste Management, Inc. (NYSE:WM)

Family Legacy Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,621 shares of the business services provider’s stock after buying an additional 338 shares during the period. Family Legacy Inc.’s holdings in Waste Management were worth $3,020,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Summit Financial LLC lifted its holdings in Waste Management by 29.9% during the fourth quarter. Summit Financial LLC now owns 6,434 shares of the business services provider’s stock worth $1,298,000 after acquiring an additional 1,481 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in shares of Waste Management during the 4th quarter worth approximately $50,000. Wellington Management Group LLP lifted its position in shares of Waste Management by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 260,910 shares of the business services provider’s stock valued at $52,649,000 after buying an additional 13,755 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Waste Management by 8.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 88,554 shares of the business services provider’s stock worth $17,869,000 after acquiring an additional 6,684 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of Waste Management during the 4th quarter valued at approximately $54,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 0.5 %

Shares of Waste Management stock opened at $227.80 on Monday. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $235.81. The firm’s 50 day simple moving average is $224.57 and its two-hundred day simple moving average is $216.63. 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 firm has a market capitalization of $91.60 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last posted 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 net margin of 12.45% and a return on equity of 37.93%. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.825 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is 48.53%.

Insider Activity at Waste Management

In other Waste Management news, EVP John J. Morris sold 19,153 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.71, for a total value of $4,303,870.63. Following the completion of the transaction, the executive vice president now owns 85,257 shares of the company’s stock, valued at $19,158,100.47. This trade represents a 18.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tara J. Hemmer sold 4,576 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total value of $1,016,421.12. Following the sale, the senior vice president now directly owns 58,765 shares in the company, valued at $13,052,881.80. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WM. Jefferies Financial Group cut their target price on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley increased their target price on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Raymond James raised their target price on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Finally, Oppenheimer increased their price target on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $236.65.

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.