Quadcap Wealth Management LLC Sells 604 Shares of Waste Management, Inc. (NYSE:WM)

Quadcap Wealth Management LLC lowered its stake in Waste Management, Inc. (NYSE:WM) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,848 shares of the business services provider’s stock after selling 604 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Waste Management were worth $1,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WM. Norges Bank bought a new position in shares of Waste Management during the fourth quarter valued at approximately $1,009,726,000. Raymond James Financial Inc. purchased a new stake in Waste Management in the fourth quarter worth $340,611,000. Capital Research Global Investors grew its stake in Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock worth $334,716,000 after purchasing an additional 1,184,905 shares during the period. Parnassus Investments LLC grew its stake in Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock worth $1,265,629,000 after purchasing an additional 1,151,237 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new stake in Waste Management in the fourth quarter worth $205,506,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WM. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Tuesday, April 29th. HSBC raised Waste Management from a “hold” rating to a “buy” rating and upped their price target for the stock from $210.00 to $265.00 in a research note on Friday, April 25th. Royal Bank of Canada upped their price target on Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Oppenheimer increased their target price on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Robert W. Baird increased their target price on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $243.29.

Waste Management Stock Down 0.1%

NYSE WM opened at $222.07 on Thursday. The stock’s 50-day moving average price is $228.22 and its 200-day moving average price is $221.38. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $239.32. The company has a market capitalization of $89.36 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.71 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter last year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Insider Activity at Waste Management

In related news, CEO James C. Fish, Jr. sold 44,405 shares of Waste Management stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the sale, the chief executive officer now owns 211,061 shares of the company’s stock, valued at approximately $48,212,664.23. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael J. Watson sold 5,732 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $227.51, for a total value of $1,304,087.32. Following the transaction, the vice president now owns 55,587 shares of the company’s stock, valued at $12,646,598.37. This represents a 9.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,522 shares of company stock valued at $18,084,124. 0.18% of the stock is owned by company 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.