Wedgewood Investors Inc. PA Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

Wedgewood Investors Inc. PA lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,050 shares of the business services provider’s stock after selling 100 shares during the period. Waste Management comprises about 1.7% of Wedgewood Investors Inc. PA’s investment portfolio, making the stock its 16th biggest holding. Wedgewood Investors Inc. PA’s holdings in Waste Management were worth $1,401,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WM. Westend Capital Management LLC raised its holdings in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Transce3nd LLC bought a new position in Waste Management in the 4th quarter worth $28,000. West Branch Capital LLC raised its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after purchasing an additional 49 shares in the last quarter. Hurley Capital LLC bought a new position in Waste Management in the 4th quarter worth $34,000. Finally, Fairway Wealth LLC raised its holdings in Waste Management by 87.6% in the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider’s stock worth $40,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 1.4%

NYSE:WM opened at $226.43 on Friday. The firm has a 50-day simple moving average of $232.91 and a two-hundred day simple moving average of $224.75. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. The firm has a market cap of $91.12 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.96 and a beta of 0.64. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same period in the previous year, the business posted $1.75 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management’s dividend payout ratio is presently 49.77%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Melius assumed coverage on shares of Waste Management in a report on Monday, June 9th. They issued a “buy” rating for the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Wednesday, June 25th. UBS Group increased their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Hsbc Global Res upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $251.00.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

About Waste Management

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.