Constitution Capital LLC Cuts Holdings in Waste Management, Inc. $WM

Constitution Capital LLC decreased its holdings in Waste Management, Inc. (NYSE:WM) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,250 shares of the business services provider’s stock after selling 4,295 shares during the period. Constitution Capital LLC’s holdings in Waste Management were worth $1,153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Old Port Advisors boosted its position in shares of Waste Management by 0.3% during the fourth quarter. Old Port Advisors now owns 16,963 shares of the business services provider’s stock valued at $3,727,000 after buying an additional 46 shares during the last quarter. Gladstone Institutional Advisory LLC raised its position in Waste Management by 1.3% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 3,853 shares of the business services provider’s stock worth $851,000 after buying an additional 49 shares during the last quarter. Clean Yield Group lifted its stake in Waste Management by 6.7% during the 3rd quarter. Clean Yield Group now owns 801 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 50 shares during the period. Mendel Money Management boosted its holdings in shares of Waste Management by 1.8% during the 3rd quarter. Mendel Money Management now owns 2,903 shares of the business services provider’s stock valued at $641,000 after acquiring an additional 50 shares during the last quarter. Finally, Canton Hathaway LLC grew its stake in shares of Waste Management by 0.5% in the third quarter. Canton Hathaway LLC now owns 9,644 shares of the business services provider’s stock worth $2,130,000 after acquiring an additional 51 shares during the period. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WM shares. The Goldman Sachs Group started coverage on shares of Waste Management in a research report on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $225.00 to $260.00 in a research report on Friday, January 9th. Oppenheimer increased their price target on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Barclays dropped their price target on Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Finally, DZ Bank started coverage on Waste Management in a report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $254.59.

Insiders Place Their Bets

In other news, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the transaction, the senior vice president owned 9,293 shares of the company’s stock, valued at $2,279,294.11. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value of $4,171,464.31. Following the transaction, the vice president owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 98,042 shares of company stock valued at $23,039,777. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Down 1.6%

WM opened at $227.60 on Tuesday. The firm’s 50 day simple moving average is $231.56 and its two-hundred day simple moving average is $220.65. The company has a market capitalization of $91.80 billion, a PE ratio of 33.97, a PEG ratio of 2.44 and a beta of 0.57. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $1.70 EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.945 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s dividend payout ratio is presently 56.42%.

About Waste Management

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.