Ascent Wealth Partners LLC increased its position in Waste Management, Inc. (NYSE:WM) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,850 shares of the business services provider’s stock after acquiring an additional 140 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Waste Management were worth $504,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WM. BlackRock Inc. increased its holdings in shares of Waste Management by 3.3% during the 4th quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock worth $2,817,372,000 after purchasing an additional 1,025,813 shares during the period. Parnassus Investments CA increased its holdings in shares of Waste Management by 1.3% during the 4th quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock worth $523,258,000 after purchasing an additional 73,432 shares during the period. Geode Capital Management LLC increased its holdings in shares of Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after purchasing an additional 326,408 shares during the period. Northern Trust Corp increased its holdings in shares of Waste Management by 1.4% during the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock worth $529,567,000 after purchasing an additional 72,356 shares during the period. Finally, Norges Bank bought a new position in shares of Waste Management during the 4th quarter worth about $402,210,000. Hedge funds and other institutional investors own 73.55% of the company’s stock.
A number of analysts recently weighed in on WM shares. Royal Bank of Canada started coverage on shares of Waste Management in a research note on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 target price on the stock. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a research note on Thursday, April 11th. Argus upped their target price on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Oppenheimer boosted their price target on shares of Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, KeyCorp boosted their price target on shares of Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $111.11.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Waste Management’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Waste Management, Inc. will post 4.3 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.5125 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.78%. Waste Management’s payout ratio is 48.81%.
In related news, EVP John J. Morris sold 42,795 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at $10,779,698.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael J. Watson sold 700 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total transaction of $73,185.00. Following the transaction, the vice president now owns 9,518 shares of the company’s stock, valued at approximately $995,106.90. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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