Kessler Investment Group LLC trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,067 shares of the business services provider’s stock after selling 704 shares during the period. Waste Management makes up 1.4% of Kessler Investment Group LLC’s investment portfolio, making the stock its 19th largest holding. Kessler Investment Group LLC’s holdings in Waste Management were worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Highwater Wealth Management LLC bought a new stake in Waste Management during the fourth quarter valued at approximately $81,000. Almanack Investment Partners LLC. bought a new stake in Waste Management during the third quarter valued at approximately $112,000. Point72 Hong Kong Ltd grew its position in Waste Management by 1,095.4% during the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,194 shares during the period. Vigilant Capital Management LLC grew its position in Waste Management by 200.0% during the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after buying an additional 1,000 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in Waste Management by 113.8% during the third quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the business services provider’s stock valued at $137,000 after buying an additional 808 shares during the period. 74.57% of the stock is owned by hedge funds and other institutional investors.
Shares of WM traded up $0.20 during mid-day trading on Friday, reaching $93.39. The stock had a trading volume of 62,732 shares, compared to its average volume of 2,087,413. The firm has a market cap of $39.17 billion, a P/E ratio of 28.98, a PEG ratio of 1.68 and a beta of 0.65. Waste Management, Inc. has a 12 month low of $78.39 and a 12 month high of $95.49. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.04. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. Equities analysts anticipate that Waste Management, Inc. will post 4.14 earnings per share for the current year.
Waste Management declared that its Board of Directors has authorized a share buyback program on Thursday, December 13th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the business services provider to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were given a $0.465 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 1.99%. Waste Management’s payout ratio is currently 57.76%.
In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $2,205,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 8,107 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $94.41, for a total transaction of $765,381.87. Following the completion of the transaction, the chief financial officer now owns 21,373 shares of the company’s stock, valued at $2,017,824.93. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Goldman Sachs Group upgraded shares of Waste Management from a “sell” rating to a “buy” rating and boosted their target price for the company from $84.00 to $107.00 in a research report on Tuesday, December 4th. ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $103.00 in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Waste Management to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $98.67.
Waste Management Company Profile
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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