Waste Management, Inc. (NYSE:WM) Shares Sold by Ballast Advisors LLC

Ballast Advisors LLC cut its position in Waste Management, Inc. (NYSE:WM) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,462 shares of the business services provider’s stock after selling 98 shares during the period. Ballast Advisors LLC’s holdings in Waste Management were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. raised its stake in Waste Management by 0.8% in the fourth quarter. Whittier Trust Co. now owns 14,173 shares of the business services provider’s stock valued at $2,860,000 after buying an additional 113 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $448,000. First National Bank of Hutchinson lifted its stake in Waste Management by 3.2% during the fourth quarter. First National Bank of Hutchinson now owns 3,742 shares of the business services provider’s stock worth $755,000 after purchasing an additional 116 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Waste Management by 1.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 179,692 shares of the business services provider’s stock valued at $36,260,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Waste Management in the fourth quarter valued at approximately $387,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM opened at $226.83 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The stock’s 50 day moving average is $222.33 and its two-hundred day moving average is $215.73. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $235.81. The firm has a market capitalization of $91.21 billion, a PE ratio of 33.36, a P/E/G ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share 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%. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio is presently 48.53%.

Insider Buying and Selling at Waste Management

In related news, SVP Johnson Varkey sold 560 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John J. Morris sold 19,153 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 85,257 shares in the company, valued at $19,158,100.47. This trade represents a 18.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,577 shares of company stock valued at $21,662,464. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. William Blair restated an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Stifel Nicolaus lifted their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Scotiabank raised their price target on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.65.

About Waste Management

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.