GYL Financial Synergies LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,406 shares of the business services provider’s stock, valued at approximately $214,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in shares of Waste Management by 5.7% in the third quarter. Victory Capital Management Inc. now owns 69,604 shares of the business services provider’s stock valued at $6,289,000 after buying an additional 3,737 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in shares of Waste Management by 1.5% in the third quarter. Commonwealth Bank of Australia now owns 40,453 shares of the business services provider’s stock valued at $3,648,000 after purchasing an additional 600 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Waste Management by 103.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,688 shares of the business services provider’s stock valued at $424,000 after purchasing an additional 2,386 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Waste Management in the third quarter valued at about $389,000. Finally, Keybank National Association OH raised its holdings in shares of Waste Management by 4.8% in the third quarter. Keybank National Association OH now owns 27,598 shares of the business services provider’s stock valued at $2,494,000 after purchasing an additional 1,253 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.
NYSE WM opened at $101.40 on Tuesday. Waste Management, Inc. has a 52-week low of $79.96 and a 52-week high of $101.78. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.85 and a quick ratio of 0.82. The stock has a market cap of $43.05 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.65 and a beta of 0.67.
Waste Management declared that its board has approved a share repurchase plan on Thursday, December 13th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the business services provider to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be given a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, March 7th. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio (DPR) is currently 48.81%.
In other Waste Management news, Director Patrick W. Gross sold 365 shares of the stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the completion of the transaction, the director now owns 53,058 shares in the company, valued at $4,935,985.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tara J. Hmmer sold 472 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $98.81, for a total transaction of $46,638.32. Following the transaction, the senior vice president now owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The disclosure for this sale can be found here. Insiders have sold 4,092 shares of company stock valued at $402,648 in the last quarter. Company insiders own 0.30% of the company’s stock.
Several analysts have recently commented on WM shares. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $103.00 in a report on Thursday, January 10th. KeyCorp started coverage on shares of Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price for the company. Oppenheimer increased their target price on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Goldman Sachs Group upgraded shares of Waste Management from a “sell” rating to a “buy” rating and increased their target price for the company from $84.00 to $107.00 in a report on Tuesday, December 4th. Finally, Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Friday, December 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $101.00.
Waste Management Company 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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