Ardevora Asset Management LLP Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

Ardevora Asset Management LLP cut its holdings in shares of Waste Management, Inc. (NYSE:WMFree Report) by 51.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,958 shares of the business services provider’s stock after selling 100,308 shares during the quarter. Waste Management makes up approximately 1.5% of Ardevora Asset Management LLP’s holdings, making the stock its 14th largest holding. Ardevora Asset Management LLP’s holdings in Waste Management were worth $16,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 1st quarter worth approximately $29,000. Gilfoyle & Co LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $30,000. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Waste Management in the 4th quarter worth approximately $30,000. KB Financial Partners LLC acquired a new position in shares of Waste Management in the 1st quarter worth approximately $33,000. Finally, State of Wyoming acquired a new position in shares of Waste Management in the 4th quarter worth approximately $34,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WM has been the subject of several research reports. HSBC lowered Waste Management from a “buy” rating to a “hold” rating and set a $210.00 target price for the company. in a research report on Thursday, February 15th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $190.00 to $205.00 in a research report on Wednesday, February 14th. Royal Bank of Canada started coverage on Waste Management in a research report on Monday, April 8th. They set a “sector perform” rating and a $211.00 price objective for the company. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.85.

Read Our Latest Stock Analysis on Waste Management

Waste Management Stock Performance

Waste Management stock traded up $2.00 during mid-day trading on Friday, hitting $207.07. 1,354,304 shares of the company’s stock traded hands, compared to its average volume of 1,594,248. The firm has a 50 day moving average price of $207.30 and a 200 day moving average price of $185.18. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The company has a market cap of $83.10 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.14 and a beta of 0.72. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54.

Waste Management (NYSE:WMGet Free Report) last announced its earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.21. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities analysts forecast that Waste Management, Inc. will post 6.88 EPS for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is currently 53.00%.

Insider Transactions at Waste Management

In other news, EVP John J. Morris sold 8,889 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now owns 95,461 shares of the company’s stock, valued at approximately $19,804,339.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John J. Morris sold 8,889 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,007 shares of company stock valued at $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Waste Management Profile

(Free Report)

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.

Further Reading

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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