Waste Management, Inc. (NYSE:WM) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC trimmed its position in Waste Management, Inc. (NYSE:WM) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,824 shares of the business services provider’s stock after selling 325 shares during the period. Alpha Cubed Investments LLC’s holdings in Waste Management were worth $368,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Activest Wealth Management lifted its stake in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates grew its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. acquired a new position in shares of Waste Management during the 4th quarter valued at about $29,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Waste Management in the fourth quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management in the second quarter valued at approximately $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Trading Up 0.5 %

NYSE:WM opened at $212.77 on Wednesday. The stock has a market cap of $85.40 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a one year low of $182.93 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The business’s 50-day simple moving average is $213.57 and its 200 day simple moving average is $211.27.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WM. UBS Group lifted their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. William Blair started coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC boosted their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Argus raised their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Ten equities 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’s stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Company 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.