Vertex Planning Partners LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Vertex Planning Partners LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,053 shares of the business services provider’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its holdings in shares of Waste Management by 36.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 456,895 shares of the business services provider’s stock worth $92,197,000 after acquiring an additional 122,973 shares during the last quarter. Broadway Wealth Solutions Inc. acquired a new position in Waste Management in the 4th quarter valued at $315,000. Norges Bank acquired a new stake in Waste Management in the 4th quarter worth about $1,009,726,000. Blair William & Co. IL increased its stake in Waste Management by 69.8% during the 4th quarter. Blair William & Co. IL now owns 103,824 shares of the business services provider’s stock worth $20,951,000 after acquiring an additional 42,684 shares during the period. Finally, Providence Wealth Advisors LLC grew its stake in Waste Management by 0.3% during the fourth quarter. Providence Wealth Advisors LLC now owns 18,476 shares of the business services provider’s stock worth $3,720,000 after buying an additional 49 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP John J. Morris sold 19,153 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the sale, the executive vice president now owns 85,257 shares in the company, valued at approximately $19,158,100.47. This trade represents a 18.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John A. Carroll sold 1,251 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $225.92, for a total value of $282,625.92. Following the sale, the chief accounting officer now owns 8,420 shares in the company, valued at $1,902,246.40. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,577 shares of company stock worth $21,662,464 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WM. StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank lifted their target price on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group lowered their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Oppenheimer boosted their price target on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, CIBC lifted their target price on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $236.65.

Waste Management Stock Performance

NYSE WM opened at $229.16 on Friday. The company’s 50 day moving average is $224.25 and its 200-day moving average is $216.37. The firm has a market cap of $92.15 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $235.81. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.825 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio is currently 48.53%.

Waste Management Profile

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.