Captrust Financial Advisors Grows Holdings in Waste Management, Inc. (WM)

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Captrust Financial Advisors grew its holdings in Waste Management, Inc. (NYSE:WM) by 232.8% during the third quarter, HoldingsChannel reports. The firm owned 24,847 shares of the business services provider’s stock after acquiring an additional 17,381 shares during the period. Captrust Financial Advisors’ holdings in Waste Management were worth $2,245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Waste Management by 0.5% in the 3rd quarter. BlackRock Inc. now owns 30,633,601 shares of the business services provider’s stock worth $2,768,051,000 after purchasing an additional 149,599 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Waste Management by 7.8% in the 2nd quarter. Macquarie Group Ltd. now owns 9,258,582 shares of the business services provider’s stock worth $753,094,000 after purchasing an additional 669,355 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Waste Management by 4.8% in the 3rd quarter. Wells Fargo & Company MN now owns 7,026,931 shares of the business services provider’s stock worth $634,953,000 after purchasing an additional 322,479 shares in the last quarter. AQR Capital Management LLC lifted its stake in Waste Management by 2.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,463,378 shares of the business services provider’s stock worth $493,671,000 after purchasing an additional 128,847 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Waste Management by 0.3% in the 2nd quarter. Janus Henderson Group PLC now owns 4,158,613 shares of the business services provider’s stock worth $338,262,000 after purchasing an additional 11,474 shares in the last quarter. 74.65% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on WM. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. UBS Group set a $90.00 price target on shares of Waste Management and gave the company a “hold” rating in a research report on Friday, October 26th. BMO Capital Markets lifted their price target on shares of Waste Management to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. ValuEngine lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Goldman Sachs Group raised shares of Waste Management from a “sell” rating to a “buy” rating and lifted their price target for the company from $84.00 to $107.00 in a research report on Tuesday, December 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $98.14.

WM stock opened at $89.19 on Wednesday. The company has a market cap of $38.86 billion, a PE ratio of 27.70, a PEG ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. Waste Management, Inc. has a one year low of $78.39 and a one year high of $95.49.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. Analysts forecast that Waste Management, Inc. will post 4.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, November 29th. Waste Management’s payout ratio is presently 57.76%.

Waste Management announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 13th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the business services provider to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 8,107 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the sale, the chief financial officer now directly owns 21,373 shares in the company, valued at approximately $2,017,824.93. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

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About Waste Management

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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