Greystone Financial Group LLC Acquires 4,342 Shares of Waste Management, Inc. $WM

Greystone Financial Group LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,070 shares of the business services provider’s stock after buying an additional 4,342 shares during the period. Waste Management accounts for approximately 2.0% of Greystone Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. Greystone Financial Group LLC’s holdings in Waste Management were worth $12,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Sprott Inc. bought a new stake in Waste Management in the 1st quarter valued at $325,000. Sei Investments Co. raised its stake in Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after acquiring an additional 20,122 shares during the period. The Manufacturers Life Insurance Company raised its stake in Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after acquiring an additional 148,590 shares during the period. Finally, Glenview Trust co raised its stake in Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after acquiring an additional 162 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 0.2%

WM stock opened at $224.39 on Tuesday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. The company’s 50-day simple moving average is $233.12 and its 200 day simple moving average is $222.17. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a market capitalization of $90.41 billion, a PE ratio of 33.49, a price-to-earnings-growth ratio of 2.37 and a beta of 0.54.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.70 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. This is an increase from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, March 13th. Waste Management’s dividend payout ratio is presently 56.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Scotiabank restated a “sector perform” rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price target on Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Oppenheimer increased their price target on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Royal Bank Of Canada lifted their price target on Waste Management from $223.00 to $235.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $255.64.

Insiders Place Their Bets

In related news, SVP Johnson Varkey sold 121 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president directly owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Tara J. Hemmer sold 4,818 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total value of $1,165,136.94. Following the completion of the sale, the senior vice president owned 78,918 shares of the company’s stock, valued at approximately $19,084,739.94. This trade represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 98,042 shares of company stock valued at $23,039,777 in the last quarter. Company insiders own 0.18% of the company’s stock.

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.