Sustainable Growth Advisers LP Lowers Holdings in Waste Management, Inc. $WM

Sustainable Growth Advisers LP decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,768,350 shares of the business services provider’s stock after selling 493,798 shares during the period. Waste Management makes up 4.2% of Sustainable Growth Advisers LP’s holdings, making the stock its 7th biggest position. Sustainable Growth Advisers LP’s holdings in Waste Management were worth $608,234,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought a new position in Waste Management during the 4th quarter worth $25,000. Cornerstone Planning Group LLC increased its position in Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after buying an additional 67 shares during the period. RHL Group LLC bought a new position in Waste Management during the 4th quarter worth $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the 3rd quarter worth $30,000. Finally, Kelleher Financial Advisors bought a new position in Waste Management during the 4th quarter worth $31,000. Institutional investors own 80.40% of the company’s stock.

Insider Transactions at Waste Management

In other Waste Management news, COO John J. Morris sold 7,979 shares of Waste Management stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $245.07, for a total value of $1,955,413.53. Following the transaction, the chief operating officer owned 98,656 shares in the company, valued at $24,177,625.92. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the transaction, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,494 shares of company stock worth $3,054,863. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Royal Bank Of Canada increased their price objective on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Barclays increased their target price on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wolfe Research initiated coverage on Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, May 27th. Finally, Robert W. Baird raised their price target on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $255.67.

Waste Management Stock Performance

Waste Management stock opened at $212.56 on Tuesday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The business’s 50-day moving average price is $224.39 and its two-hundred day moving average price is $224.27. The stock has a market cap of $85.36 billion, a PE ratio of 30.76, a P/E/G ratio of 2.21 and a beta of 0.45.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.

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.