Capital Innovations LLC Makes New $6.90 Million Investment in Waste Management, Inc. $WM

Capital Innovations LLC acquired a new position in Waste Management, Inc. (NYSE:WM) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 31,389 shares of the business services provider’s stock, valued at approximately $6,896,000. Waste Management accounts for 2.0% of Capital Innovations LLC’s portfolio, making the stock its 19th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Waste Management by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock valued at $1,972,371,000 after acquiring an additional 117,476 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Waste Management by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after acquiring an additional 277,250 shares during the period. Norges Bank acquired a new position in shares of Waste Management during the fourth quarter valued at $1,022,916,000. Finally, Northern Trust Corp boosted its holdings in shares of Waste Management by 0.3% during the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock valued at $873,276,000 after acquiring an additional 11,688 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE WM opened at $211.79 on Wednesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm’s 50-day simple moving average is $224.39 and its 200 day simple moving average is $224.27. 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 stock has a market cap of $85.05 billion, a P/E ratio of 30.65, a P/E/G ratio of 2.22 and a beta of 0.45.

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

Waste Management Dividend Announcement

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

Insider Transactions at Waste Management

In related news, 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 transaction of $29,677.67. Following the sale, the senior vice president directly owned 9,293 shares in the company, valued at $2,279,294.11. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction dated 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 owned 99,929 shares in the company, valued at approximately $24,320,720.02. This represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have 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

WM has been the subject of several analyst reports. Barclays boosted their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a report on Wednesday, May 27th. Wolfe Research initiated coverage on shares of Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $255.67.

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.