Mackay Shields LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 45.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,946 shares of the business services provider’s stock after selling 82,430 shares during the period. Mackay Shields LLC’s holdings in Waste Management were worth $11,504,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of WM. CIBC Private Wealth Group LLC increased its stake in shares of Waste Management by 2,836.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,112,364 shares of the business services provider’s stock valued at $126,765,000 after purchasing an additional 1,074,484 shares during the last quarter. Johanson Financial Advisors Inc. lifted its position in shares of Waste Management by 11,219.5% during the 4th quarter. Johanson Financial Advisors Inc. now owns 996,000 shares of the business services provider’s stock worth $8,742,000 after buying an additional 987,201 shares during the last quarter. BlackRock Inc. lifted its position in shares of Waste Management by 3.1% during the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after buying an additional 976,898 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Waste Management by 398.2% during the 4th quarter. First Trust Advisors LP now owns 1,124,958 shares of the business services provider’s stock worth $128,200,000 after buying an additional 899,152 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Waste Management by 19.4% in the third quarter. Pictet Asset Management Ltd. now owns 3,329,752 shares of the business services provider’s stock valued at $382,921,000 after buying an additional 540,962 shares in the last quarter. 71.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on WM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $138.00 target price on shares of Waste Management in a research report on Friday, February 14th. Jefferies Financial Group began coverage on shares of Waste Management in a report on Wednesday, November 27th. They issued a “hold” rating and a $120.00 target price for the company. Deutsche Bank raised their price target on shares of Waste Management from $123.00 to $132.00 and gave the company a “hold” rating in a research note on Friday, February 14th. CIBC assumed coverage on shares of Waste Management in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $130.00 price target on the stock. Finally, Benchmark raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and a consensus target price of $126.46.
Shares of WM opened at $110.81 on Friday. Waste Management, Inc. has a 12-month low of $97.55 and a 12-month high of $126.79. The business has a 50-day simple moving average of $121.70 and a two-hundred day simple moving average of $116.19. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 1.88. The stock has a market cap of $48.26 billion, a PE ratio of 28.34, a PEG ratio of 2.92 and a beta of 0.60.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Waste Management had a return on equity of 28.14% and a net margin of 10.81%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the company earned $1.13 earnings per share. The business’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts expect that Waste Management, Inc. will post 4.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $2.18 annualized dividend and a dividend yield of 1.97%. This is an increase from Waste Management’s previous quarterly dividend of $0.51. Waste Management’s dividend payout ratio is currently 46.59%.
In related news, SVP Charles C. Boettcher sold 1,217 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $124.99, for a total value of $152,112.83. Following the sale, the senior vice president now owns 27,086 shares of the company’s stock, valued at $3,385,479.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael J. Watson sold 529 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $125.06, for a total transaction of $66,156.74. Following the completion of the sale, the vice president now directly owns 17,416 shares in the company, valued at approximately $2,178,044.96. The disclosure for this sale can be found here. Insiders sold 137,683 shares of company stock valued at $17,217,165 in the last ninety days. 0.14% of the stock is currently owned by 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.
Read More: Guidelines for Successful Channel Trading
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Waste Management and related companies with MarketBeat.com’s FREE daily email newsletter.
All copyrights for this article are reserved to This Publisher