Ecofin Ltd. reduced its holdings in Waste Management, Inc. (NYSE:WM) by 20.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,917 shares of the business services provider’s stock after selling 10,191 shares during the period. Waste Management makes up about 2.4% of Ecofin Ltd.’s investment portfolio, making the stock its 14th largest position. Ecofin Ltd.’s holdings in Waste Management were worth $3,552,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Gideon Capital Advisors Inc. acquired a new position in shares of Waste Management in the 3rd quarter valued at $343,000. Virtu Financial LLC increased its holdings in shares of Waste Management by 43.3% in the 3rd quarter. Virtu Financial LLC now owns 4,118 shares of the business services provider’s stock valued at $372,000 after acquiring an additional 1,244 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Waste Management by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,466,540 shares of the business services provider’s stock valued at $132,510,000 after acquiring an additional 25,065 shares during the period. Brown Advisory Inc. increased its holdings in shares of Waste Management by 13.4% in the 3rd quarter. Brown Advisory Inc. now owns 42,856 shares of the business services provider’s stock valued at $3,873,000 after acquiring an additional 5,049 shares during the period. Finally, Banco Santander S.A. acquired a new position in shares of Waste Management in the 3rd quarter valued at $244,000. 75.74% of the stock is currently owned by institutional investors.
In other news, EVP John J. Morris sold 1,540 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.82, for a total transaction of $152,182.80. Following the transaction, the executive vice president now directly owns 95,827 shares of the company’s stock, valued at approximately $9,469,624.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.81, for a total transaction of $46,638.32. Following the transaction, the senior vice president now directly owns 17,208 shares in the company, valued at $1,700,322.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,727 shares of company stock worth $368,692. Corporate insiders own 0.14% of the company’s stock.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, topping the Zacks’ 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 period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Waste Management, Inc. will post 4.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.5125 per share. The ex-dividend date was Thursday, March 7th. This is a boost from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.94%. Waste Management’s dividend payout ratio is 48.81%.
A number of equities analysts have recently commented on the stock. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and lifted their target price for the company from $103.00 to $106.00 in a report on Thursday, April 4th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Monday, December 31st. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Oppenheimer boosted their price objective on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Finally, KeyCorp initiated coverage on shares of Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $101.71.
Waste Management 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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