Waste Management, Inc. (NYSE:WM) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,671,480 shares of the business services provider’s stock after selling 55,790 shares during the period. Clearbridge Investments LLC owned approximately 0.67% of Waste Management worth $539,078,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates lifted its stake in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares during the period. General Partner Inc. purchased a new position in shares of Waste Management during the fourth quarter worth $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management during the fourth quarter valued at $33,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management during the 4th quarter worth about $35,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Waste Management by 65.7% during the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 693 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total value of $152,868.87. Following the completion of the transaction, the executive vice president now owns 45,542 shares of the company’s stock, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Johnson Varkey sold 124 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the completion of the sale, the senior vice president now owns 8,491 shares in the company, valued at approximately $1,995,045.36. The trade was a 1.44 % 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. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on WM shares. Morgan Stanley raised their target price on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” 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 company a “sector outperform” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Stifel Nicolaus upped their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Oppenheimer upped their price objective on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $236.65.

Waste Management Stock Down 0.5 %

Shares of WM opened at $227.80 on Friday. The stock has a fifty day simple moving average of $224.57 and a two-hundred day simple moving average of $216.56. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The company has a market capitalization of $91.60 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $235.81.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.825 per share. The ex-dividend date was Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management’s dividend payout ratio is currently 48.53%.

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.