Suntrust Banks Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,831 shares of the business services provider’s stock after acquiring an additional 1,744 shares during the period. Suntrust Banks Inc.’s holdings in Waste Management were worth $3,811,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. We Are One Seven LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $26,000. Larson Financial Group LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Waste Management in the 4th quarter valued at about $27,000. Gantzert Investment Co. LLC ADV acquired a new stake in shares of Waste Management in the 4th quarter valued at about $31,000. Finally, Athena Capital Advisors LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 75.74% of the company’s stock.
In other Waste Management news, Director Patrick W. Gross sold 365 shares of Waste Management stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the transaction, the director now owns 53,058 shares of the company’s stock, valued at approximately $4,935,985.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Devina A. Rankin sold 692 shares of Waste Management stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.80, for a total transaction of $68,369.60. Following the transaction, the chief financial officer now directly owns 22,128 shares in the company, valued at approximately $2,186,246.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,092 shares of company stock worth $402,648. 0.30% of the stock is owned by insiders.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.5125 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, March 7th. This represents a $2.05 annualized dividend and a yield of 1.97%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
Several brokerages have recently commented on WM. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $106.00 in a research note on Thursday, April 4th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Monday. Oppenheimer raised their target price on Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. KeyCorp began coverage on Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price for the company. Finally, Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.71.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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