Jacobi Capital Management LLC Reduces Stake in Waste Management, Inc. (NYSE:WM)

Jacobi Capital Management LLC trimmed its position in Waste Management, Inc. (NYSE:WM) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 20,648 shares of the business services provider’s stock after selling 101 shares during the period. Jacobi Capital Management LLC’s holdings in Waste Management were worth $4,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Metis Global Partners LLC raised its stake in shares of Waste Management by 17.0% in the fourth quarter. Metis Global Partners LLC now owns 14,995 shares of the business services provider’s stock worth $3,026,000 after buying an additional 2,180 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Waste Management by 20.5% in the 4th quarter. Fisher Asset Management LLC now owns 7,744 shares of the business services provider’s stock valued at $1,563,000 after purchasing an additional 1,320 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its stake in shares of Waste Management by 3.0% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 5,846 shares of the business services provider’s stock worth $1,180,000 after acquiring an additional 169 shares during the last quarter. Maple Capital Management Inc. bought a new stake in shares of Waste Management during the 4th quarter worth approximately $386,000. Finally, SVB Wealth LLC bought a new stake in Waste Management during the 4th quarter valued at $6,487,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $232.83 on Friday. The firm has a 50-day simple moving average of $215.71 and a 200 day simple moving average of $213.89. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $233.04. The company has a market cap of $93.63 billion, a PE ratio of 34.24, a P/E/G ratio of 2.71 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is 48.53%.

Insider Buying and Selling at Waste Management

In other news, CAO John A. Carroll sold 209 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the transaction, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total value of $152,868.87. Following the completion of the sale, the executive vice president now directly owns 45,542 shares of the company’s stock, valued at approximately $10,046,109.78. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,192 shares of company stock valued at $15,025,861 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WM shares. CIBC lifted their price target on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Citigroup boosted their price target on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, StockNews.com cut Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.94.

Waste Management Profile

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.