Duff & Phelps Investment Management Co. Decreases Holdings in Waste Management, Inc. (NYSE:WM)

Duff & Phelps Investment Management Co. cut its holdings in Waste Management, Inc. (NYSE:WM) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,894 shares of the business services provider’s stock after selling 1,356 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Waste Management were worth $10,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Norges Bank bought a new position in shares of Waste Management in the 4th quarter worth about $1,009,726,000. Raymond James Financial Inc. purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $340,611,000. Parnassus Investments LLC boosted its position in shares of Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock worth $1,265,629,000 after purchasing an additional 1,151,237 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Waste Management by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider’s stock worth $7,526,823,000 after buying an additional 538,567 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Waste Management by 138.0% during the third quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after buying an additional 416,579 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.1 %

NYSE WM opened at $229.16 on Friday. 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, Inc. has a 52 week low of $196.59 and a 52 week high of $235.81. The company has a market capitalization of $92.15 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The stock’s 50-day moving average price is $224.25 and its 200-day moving average price is $216.37.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share 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. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is currently 48.53%.

Insider Buying and Selling at Waste Management

In related news, EVP John J. Morris sold 19,153 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total value of $4,303,870.63. Following the completion of the transaction, the executive vice president now directly owns 85,257 shares of the company’s stock, valued at approximately $19,158,100.47. This trade represents a 18.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles C. Boettcher sold 693 shares of Waste Management stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the transaction, the executive vice president now directly owns 45,542 shares of the company’s stock, valued at $10,046,109.78. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,577 shares of company stock worth $21,662,464. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of several analyst reports. StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank lifted their target price on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Oppenheimer boosted their price objective on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Raymond James increased their target price on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.65.

Waste Management Company 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.