Waste Management (NYSE:WM) COO Sells $1,024,873.18 in Stock

Waste Management, Inc. (NYSE:WM) COO John Morris sold 4,211 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the sale, the chief operating officer directly owned 99,929 shares of the company’s stock, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Waste Management Stock Performance

Shares of WM opened at $238.94 on Friday. The company has a market cap of $96.38 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 2.50 and a beta of 0.57. The business’s fifty day simple moving average is $229.41 and its two-hundred day simple moving average is $220.29. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.945 per share. The ex-dividend date is Friday, March 13th. This represents a $3.78 annualized dividend and a yield of 1.6%. This is an increase from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s dividend payout ratio (DPR) is currently 49.25%.

Institutional Trading of Waste Management

Several institutional investors have recently made changes to their positions in the business. Cornercap Investment Counsel Inc. bought a new position in Waste Management during the third quarter valued at approximately $1,583,000. Lockheed Martin Investment Management Co. bought a new stake in Waste Management in the 3rd quarter worth approximately $3,092,000. Guerra Advisors Inc raised its holdings in shares of Waste Management by 59.5% during the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 3,371 shares in the last quarter. Compass Wealth Management LLC boosted its position in shares of Waste Management by 537.0% during the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock valued at $21,138,000 after acquiring an additional 80,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Waste Management by 19.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock valued at $15,301,000 after purchasing an additional 11,135 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on WM shares. Oppenheimer lifted their price target on shares of Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. DZ Bank started coverage on shares of Waste Management in a research note on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price for the company. TD Cowen lifted their price objective on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.55.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.