Tidal Investments LLC Increases Stake in Waste Management, Inc. (NYSE:WM)

Tidal Investments LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 10.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 38,337 shares of the business services provider’s stock after buying an additional 3,600 shares during the period. Tidal Investments LLC’s holdings in Waste Management were worth $7,736,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Teza Capital Management LLC increased its stake in Waste Management by 527.2% in the 4th quarter. Teza Capital Management LLC now owns 7,827 shares of the business services provider’s stock worth $1,579,000 after purchasing an additional 6,579 shares during the period. State of Wyoming increased its stake in Waste Management by 98.7% in the 4th quarter. State of Wyoming now owns 892 shares of the business services provider’s stock worth $180,000 after purchasing an additional 443 shares during the period. Strategic Wealth Partners Ltd. grew its position in shares of Waste Management by 5.8% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 7,428 shares of the business services provider’s stock worth $1,499,000 after buying an additional 408 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Waste Management by 8.0% in the 4th quarter. Toronto Dominion Bank now owns 200,294 shares of the business services provider’s stock worth $40,417,000 after buying an additional 14,840 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its position in shares of Waste Management by 5.9% in the 4th quarter. Snowden Capital Advisors LLC now owns 15,134 shares of the business services provider’s stock worth $3,054,000 after buying an additional 845 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE:WM opened at $231.87 on Tuesday. The stock has a 50-day simple moving average of $228.51 and a two-hundred day simple moving average of $221.80. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $239.32. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The firm has a market capitalization of $93.31 billion, a PE ratio of 34.10, a P/E/G ratio of 2.71 and a beta of 0.67.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. Waste Management’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is 49.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WM shares. Citigroup lifted their price objective on Waste Management from $260.00 to $271.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Seaport Res Ptn upgraded Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Oppenheimer lifted their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group cut their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.29.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 5,732 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $227.51, for a total value of $1,304,087.32. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James C. Fish, Jr. sold 44,405 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total value of $10,143,434.15. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 79,522 shares of company stock valued at $18,084,124 over the last 90 days. Company insiders own 0.18% of the company’s stock.

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.