Kaizen Advisory LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 13.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,496 shares of the business services provider’s stock after selling 1,670 shares during the period. Waste Management makes up approximately 0.6% of Kaizen Advisory LLC’s investment portfolio, making the stock its 16th largest position. Kaizen Advisory LLC’s holdings in Waste Management were worth $934,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC boosted its position in shares of Waste Management by 0.9% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock worth $3,103,000 after purchasing an additional 295 shares during the period. NuWave Investment Management LLC boosted its position in Waste Management by 2,840.6% in the 4th quarter. NuWave Investment Management LLC now owns 6,440 shares of the business services provider’s stock valued at $573,000 after buying an additional 6,221 shares during the period. South Texas Money Management Ltd. boosted its position in Waste Management by 0.8% in the 4th quarter. South Texas Money Management Ltd. now owns 41,557 shares of the business services provider’s stock valued at $3,698,000 after buying an additional 339 shares during the period. Ibex Wealth Advisors boosted its position in Waste Management by 1.3% in the 4th quarter. Ibex Wealth Advisors now owns 49,620 shares of the business services provider’s stock valued at $4,416,000 after buying an additional 659 shares during the period. Finally, D.A. Davidson & CO. boosted its position in Waste Management by 0.3% in the 4th quarter. D.A. Davidson & CO. now owns 49,267 shares of the business services provider’s stock valued at $4,384,000 after buying an additional 167 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP John J. Morris sold 1,540 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.82, for a total value of $152,182.80. Following the sale, the executive vice president now directly owns 95,827 shares in the company, valued at approximately $9,469,624.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 53,058 shares in the company, valued at $4,935,985.74. The disclosure for this sale can be found here. Insiders sold a total of 4,092 shares of company stock worth $402,648 over the last 90 days. Company insiders own 0.30% of the company’s stock.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, beating 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 analyst estimates of $3.78 billion. During the same period last year, the business earned $0.85 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Waste Management, Inc. will post 4.37 earnings per share for the current fiscal year.
Waste Management announced that its Board of Directors has approved a stock buyback program on Thursday, December 13th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.5125 dividend. This represents a $2.05 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, March 7th. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
WM has been the subject of several recent research reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Monday, November 26th. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $103.00 in a research report on Thursday, January 10th. Oppenheimer raised their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Goldman Sachs Group raised shares of Waste Management from a “sell” rating to a “buy” rating and raised their price target for the company from $84.00 to $107.00 in a research report on Tuesday, December 4th. Finally, KeyCorp initiated coverage on shares of Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price target for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $101.00.
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About Waste Management
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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