Capital Research Global Investors Sells 3,829,336 Shares of Waste Management, Inc. (NYSE:WM)

Capital Research Global Investors decreased its holdings in Waste Management, Inc. (NYSE:WMGet Rating) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,947,150 shares of the business services provider’s stock after selling 3,829,336 shares during the quarter. Capital Research Global Investors owned approximately 1.19% of Waste Management worth $784,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WM. Acadian Asset Management LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $87,000. Covestor Ltd bought a new position in shares of Waste Management in the 4th quarter worth about $62,000. Linscomb & Williams Inc. lifted its stake in shares of Waste Management by 2.3% in the 4th quarter. Linscomb & Williams Inc. now owns 3,700 shares of the business services provider’s stock valued at $618,000 after purchasing an additional 83 shares during the period. Great Valley Advisor Group Inc. boosted its position in shares of Waste Management by 14.5% during the 4th quarter. Great Valley Advisor Group Inc. now owns 9,483 shares of the business services provider’s stock valued at $1,557,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Donoghue Forlines LLC acquired a new stake in Waste Management during the fourth quarter worth approximately $1,004,000. 74.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WM has been the topic of a number of research analyst reports. Oppenheimer set a $160.00 price target on Waste Management in a report on Tuesday, July 19th. Morgan Stanley increased their target price on shares of Waste Management from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Management has an average rating of “Hold” and an average target price of $164.86.

Waste Management Stock Performance

NYSE WM opened at $171.73 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.95. The company has a fifty day simple moving average of $165.12 and a 200 day simple moving average of $159.02. Waste Management, Inc. has a 12-month low of $138.58 and a 12-month high of $175.98. The company has a market cap of $70.98 billion, a P/E ratio of 33.54, a PEG ratio of 2.54 and a beta of 0.76.

Waste Management (NYSE:WMGet Rating) last posted its earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.36 by $0.08. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. The company had revenue of $5.03 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Sell-side analysts predict that Waste Management, Inc. will post 5.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 1.51%. Waste Management’s payout ratio is 50.78%.

Insider Buying and Selling

In other Waste Management news, CFO Devina A. Rankin sold 22,082 shares of Waste Management stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the transaction, the chief financial officer now directly owns 50,516 shares of the company’s stock, valued at approximately $8,840,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Waste Management news, CFO Devina A. Rankin sold 22,082 shares of Waste Management stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the transaction, the chief financial officer now owns 50,516 shares of the company’s stock, valued at approximately $8,840,300. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Pope sold 219 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the completion of the transaction, the director now owns 55,439 shares in the company, valued at approximately $8,437,261.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,067 shares of company stock worth $9,292,271. 0.18% of the stock is owned by corporate insiders.

About Waste Management

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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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