Shell Asset Management Co. Acquires 1,229 Shares of Waste Management, Inc. (NYSE:WM)
Shell Asset Management Co. increased its stake in Waste Management, Inc. (NYSE:WM) by 6.8% in Q4, acquiring an additional 1,229 shares, bringing its total to 19,379 shares valued at $3.91 million. Other institutional investors also adjusted their holdings. Analysts have raised price targets for Waste Management, with an average target of $243.29. CEO James C. Fish, Jr. sold 44,405 shares, reducing his stake by 17.38%. Waste Management's stock opened at $227.76, with a market cap of $91.65 billion and a P/E ratio of 33.49.
Shell Asset Management Co. grew its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,379 shares of the business services provider's stock after purchasing an additional 1,229 shares during the period. Shell Asset Management Co.'s holdings in Waste Management were worth $3,910,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also modified their holdings of WM. Transce3nd LLC bought a new stake in shares of Waste Management in the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management in the fourth quarter worth $33,000. Hurley Capital LLC bought a new stake in shares of Waste Management in the fourth quarter worth $34,000. Sugar Maple Asset Management LLC bought a new stake in shares of Waste Management in the fourth quarter worth $35,000. Finally, Richardson Financial Services Inc. grew its holdings in shares of Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider's stock worth $35,000 after acquiring an additional 69 shares during the period. Institutional investors own 80.40% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on WM. Raymond James boosted their price target on Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Friday, January 31st. UBS Group boosted their price target on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Royal Bank of Canada boosted their price target on Waste Management from $227.00 to $229.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Scotiabank boosted their price target on Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $243.29.
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Insider Activity
In related news, CEO James C. Fish, Jr. sold 44,405 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $228.43, for a total value of $10,143,434.15. Following the completion of the transaction, the chief executive officer now owns 211,061 shares in the company, valued at $48,212,664.23. This trade represents a 17.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Johnson Varkey sold 124 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total value of $29,135.04. Following the completion of the transaction, the senior vice president now owns 8,491 shares of the company's stock, valued at $1,995,045.36. This trade represents a 1.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,522 shares of company stock worth $18,084,124. Insiders own 0.18% of the company's stock.
Waste Management Stock Up 2.4%
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Shares of NYSE:WM opened at $227.76 on Friday. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $239.32. The stock has a market cap of $91.65 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.67. The business's 50 day moving average is $228.22 and its 200 day moving average is $221.51. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.
Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.45%. Waste Management's dividend payout ratio (DPR) is presently 49.77%.
About Waste Management
(Free Report)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.
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