Hyman Charles D Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Hyman Charles D trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,229 shares of the business services provider’s stock after selling 250 shares during the period. Hyman Charles D’s holdings in Waste Management were worth $417,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. First Personal Financial Services grew its holdings in shares of Waste Management by 2.7% in the 4th quarter. First Personal Financial Services now owns 61,164 shares of the business services provider’s stock worth $7,213,000 after acquiring an additional 1,599 shares during the period. Jensen Investment Management Inc. grew its holdings in Waste Management by 31.3% during the 4th quarter. Jensen Investment Management Inc. now owns 1,294,094 shares of the business services provider’s stock valued at $152,613,000 after buying an additional 308,264 shares during the last quarter. Hedeker Wealth LLC grew its holdings in Waste Management by 5.3% during the 4th quarter. Hedeker Wealth LLC now owns 18,716 shares of the business services provider’s stock valued at $2,207,000 after buying an additional 941 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Waste Management by 32.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 54,980 shares of the business services provider’s stock worth $6,484,000 after buying an additional 13,503 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Waste Management by 19.4% in the 4th quarter. Van ECK Associates Corp now owns 32,569 shares of the business services provider’s stock worth $3,841,000 after buying an additional 5,282 shares during the period. 71.42% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Nikolaj H. Sjoqvist sold 1,391 shares of the business’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $111.51, for a total transaction of $155,110.41. Following the sale, the senior vice president now owns 39,769 shares of the company’s stock, valued at $4,434,641.19. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Devina A. Rankin sold 17,603 shares of the business’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $115.00, for a total value of $2,024,345.00. Following the sale, the chief financial officer now directly owns 25,473 shares in the company, valued at approximately $2,929,395. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,382 shares of company stock worth $3,731,129. Corporate insiders own 0.16% of the company’s stock.

WM has been the topic of several research reports. Robert W. Baird lowered Waste Management from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $128.00 to $122.00 in a research report on Tuesday, February 16th. Oppenheimer raised their price objective on Waste Management from $146.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank of Canada raised their target price on Waste Management from $122.00 to $137.00 and gave the company a “sector perform” rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on Waste Management in a research note on Tuesday, April 13th. They set a “buy” rating and a $145.00 target price for the company. Finally, Raymond James raised their target price on Waste Management from $144.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Waste Management presently has a consensus rating of “Hold” and a consensus target price of $129.77.

Shares of WM traded up $0.04 during mid-day trading on Tuesday, reaching $140.38. 23,405 shares of the company’s stock traded hands, compared to its average volume of 1,975,789. The business’s 50-day moving average price is $130.89 and its 200-day moving average price is $119.70. The stock has a market capitalization of $59.26 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 4.70 and a beta of 0.72. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88. Waste Management, Inc. has a 12 month low of $94.13 and a 12 month high of $140.68.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 3.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were issued a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, March 11th. This is a boost from Waste Management’s previous quarterly dividend of $0.55. Waste Management’s payout ratio is 52.27%.

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 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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