Waste Management, Inc. $WM Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp reduced its position in Waste Management, Inc. (NYSE:WM) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 183,008 shares of the business services provider’s stock after selling 4,205 shares during the quarter. Waste Management comprises about 2.3% of AMI Asset Management Corp’s holdings, making the stock its 19th largest position. AMI Asset Management Corp’s holdings in Waste Management were worth $40,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. increased its stake in Waste Management by 0.3% in the 4th quarter. Webster Bank N. A. now owns 19,091 shares of the business services provider’s stock valued at $4,194,000 after buying an additional 54 shares during the period. Third View Private Wealth LLC acquired a new position in Waste Management in the 4th quarter valued at $3,135,000. Transcend Capital Advisors LLC increased its stake in Waste Management by 11.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,641 shares of the business services provider’s stock valued at $1,020,000 after buying an additional 494 shares during the period. Tandem Capital Management Corp ADV increased its stake in Waste Management by 41.4% in the 4th quarter. Tandem Capital Management Corp ADV now owns 9,311 shares of the business services provider’s stock valued at $2,046,000 after buying an additional 2,728 shares during the period. Finally, HBW Advisory Services LLC acquired a new position in Waste Management in the 4th quarter valued at $834,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 17,251 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the transaction, the vice president directly owned 44,146 shares in the company, valued at $10,674,944.26. This represents a 28.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James C. Fish, Jr. sold 30,390 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the transaction, the chief executive officer owned 225,793 shares in the company, valued at approximately $52,013,675.48. The trade was a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 98,042 shares of company stock worth $23,039,777. 0.18% of the stock is currently owned by insiders.

Waste Management Price Performance

Waste Management stock opened at $230.39 on Tuesday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The stock has a market capitalization of $92.82 billion, a P/E ratio of 34.39, a P/E/G ratio of 2.42 and a beta of 0.54. The firm’s 50-day moving average is $233.34 and its two-hundred day moving average is $221.97. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. During the same period in the prior year, the business earned $1.70 earnings per share. Waste Management’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, March 13th. This is an increase from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s payout ratio is currently 56.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WM shares. Stifel Nicolaus upped their price target on shares of Waste Management from $236.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price target on shares of Waste Management from $250.00 to $273.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Royal Bank Of Canada upped their price target on shares of Waste Management from $223.00 to $235.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.82.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.