Waste Management, Inc. $WM Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its position in Waste Management, Inc. (NYSE:WM) by 141.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,282 shares of the business services provider’s stock after acquiring an additional 3,677 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Waste Management were worth $1,380,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WM. Cornerstone Planning Group LLC raised its holdings in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Waste Management during the third quarter worth $30,000. Loomis Sayles & Co. L P purchased a new position in Waste Management in the second quarter valued at $40,000. Holos Integrated Wealth LLC acquired a new stake in Waste Management in the fourth quarter valued at $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Waste Management in the third quarter valued at $41,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.5%

WM opened at $231.02 on Thursday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. 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 stock has a market capitalization of $93.18 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.54. The business’s 50-day simple moving average is $232.50 and its 200-day simple moving average is $221.04.

Waste Management (NYSE:WM) last announced its earnings results 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 firm 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 firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. Analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

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

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 17,251 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John J. Morris sold 7,979 shares of Waste Management stock in a transaction on Friday, March 6th. The shares were sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the completion of the transaction, the chief operating officer owned 98,656 shares in the company, valued at approximately $24,177,625.92. This represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 98,042 shares of company stock valued at $23,039,777. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen upped their price objective on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Sanford C. Bernstein boosted their target price on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Citigroup lowered their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Stifel Nicolaus increased their price target on shares of Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Scotiabank reissued a “sector perform” rating and set a $250.00 price objective (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $254.59.

Waste Management Company 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.