Wedge Capital Management L L P NC Has $10.34 Million Position in Waste Management, Inc. (NYSE:WM)

Wedge Capital Management L L P NC cut its stake in Waste Management, Inc. (NYSE:WM) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,740 shares of the business services provider’s stock after selling 347 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Waste Management were worth $10,341,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WM. Morgan Stanley increased its holdings in Waste Management by 0.7% in the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after buying an additional 46,084 shares during the period. Nordea Investment Management AB raised its holdings in Waste Management by 16.9% during the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Waste Management by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after purchasing an additional 66,816 shares during the last quarter. Northern Trust Corp raised its holdings in Waste Management by 2.3% during the 3rd quarter. Northern Trust Corp now owns 4,065,843 shares of the business services provider’s stock worth $619,797,000 after purchasing an additional 90,129 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Waste Management by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 2,446,103 shares of the business services provider’s stock worth $372,886,000 after purchasing an additional 9,001 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Royal Bank of Canada assumed coverage on shares of Waste Management in a research note on Monday, April 8th. They set a “sector perform” rating and a $211.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Waste Management from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. HSBC lowered shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target for the company. in a research note on Thursday, February 15th. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. Finally, Truist Financial lifted their price objective on shares of Waste Management from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $204.85.

Insider Buying and Selling at Waste Management

In related news, EVP Charles C. Boettcher sold 3,275 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the transaction, the executive vice president now directly owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Charles C. Boettcher sold 3,275 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the sale, the executive vice president now owns 36,403 shares in the company, valued at approximately $7,262,034.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,007 shares of company stock worth $3,696,520. Insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.0 %

Shares of NYSE:WM traded up $2.02 during trading on Tuesday, reaching $209.55. 344,785 shares of the stock traded hands, compared to its average volume of 1,645,941. The stock has a 50-day moving average of $207.69 and a two-hundred day moving average of $185.78. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a market cap of $84.09 billion, a P/E ratio of 36.77, a price-to-earnings-growth ratio of 3.14 and a beta of 0.72.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.21. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.19 billion. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. During the same period last year, the firm earned $1.30 earnings per share. As a group, sell-side analysts expect that Waste Management, Inc. will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.75 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, March 14th. Waste Management’s payout ratio is currently 53.00%.

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.