AMI Asset Management Corp Decreases Stock Position in Waste Management, Inc. (NYSE:WM)

AMI Asset Management Corp trimmed its position in Waste Management, Inc. (NYSE:WM) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,344 shares of the business services provider’s stock after selling 4,670 shares during the quarter. Waste Management comprises about 2.2% of AMI Asset Management Corp’s investment portfolio, making the stock its 21st biggest position. AMI Asset Management Corp owned about 0.05% of Waste Management worth $42,042,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WM. Activest Wealth Management grew its stake in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Global Wealth Strategies & Associates grew its position in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. bought a new stake in Waste Management during the fourth quarter worth approximately $29,000. Sugar Maple Asset Management LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth approximately $36,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.4 %

Shares of NYSE:WM opened at $211.79 on Tuesday. The company has a market capitalization of $85.01 billion, a PE ratio of 32.38, a P/E/G ratio of 2.14 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $181.56 and a 12-month high of $230.39. The business’s fifty day simple moving average is $213.57 and its 200-day simple moving average is $211.27.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group raised their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Argus increased their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $230.72.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.