Canton Hathaway LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 34.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,900 shares of the business services provider’s stock after purchasing an additional 2,300 shares during the period. Waste Management comprises approximately 0.5% of Canton Hathaway LLC’s investment portfolio, making the stock its 24th biggest holding. Canton Hathaway LLC’s holdings in Waste Management were worth $924,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. We Are One Seven LLC bought a new position in shares of Waste Management during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC acquired a new position in Waste Management during the 4th quarter worth $26,000. Executive Wealth Management LLC acquired a new position in Waste Management during the 4th quarter worth $26,000. Altshuler Shaham Ltd acquired a new position in Waste Management during the 4th quarter worth $27,000. Finally, Washington Trust Bank bought a new position in shares of Waste Management during the 1st quarter worth about $28,000. Institutional investors own 75.74% of the company’s stock.
NYSE:WM traded up $1.29 during mid-day trading on Wednesday, hitting $102.93. 1,588,584 shares of the company’s stock were exchanged, compared to its average volume of 1,819,725. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.85 and a quick ratio of 0.82. Waste Management, Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $104.80. The company has a market cap of $43.36 billion, a PE ratio of 24.51, a P/E/G ratio of 2.68 and a beta of 0.67.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that Waste Management, Inc. will post 4.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s payout ratio is 48.81%.
Waste Management announced that its Board of Directors has authorized a share repurchase program on Thursday, December 13th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages recently weighed in on WM. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $103.00 in a report on Thursday, January 10th. KeyCorp began coverage on shares of Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price for the company. Oppenheimer raised their target price on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Friday, December 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $101.50.
In related news, CFO Devina A. Rankin sold 692 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.80, for a total transaction of $68,369.60. Following the completion of the sale, the chief financial officer now directly owns 22,128 shares in the company, valued at approximately $2,186,246.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Batchelor sold 707 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.83, for a total value of $69,872.81. Following the sale, the insider now owns 22,142 shares of the company’s stock, valued at $2,188,293.86. The disclosure for this sale can be found here. Insiders have sold a total of 4,092 shares of company stock valued at $402,648 in the last 90 days. 0.30% of the stock is currently owned by company insiders.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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