Waste Management, Inc. (NYSE:WM) Short Interest Up 19.3% in March

Waste Management, Inc. (NYSE:WM) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 5,971,202 shares, a growth of 19.3% from the February 26th total of 5,005,276 shares. Based on an average daily trading volume, of 2,680,126 shares, the short-interest ratio is presently 2.2 days. Currently, 1.5% of the company’s stock are sold short.

Waste Management Stock Up 0.5%

NYSE:WM opened at $231.02 on Thursday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The company’s fifty day moving average price is $232.50 and its 200-day moving average price is $221.04. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $93.18 billion, a P/E ratio of 34.48, a PEG ratio of 2.43 and a beta of 0.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. Waste Management’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 earnings per share. As a group, equities research analysts anticipate that Waste Management will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.6%. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, March 13th. Waste Management’s dividend payout ratio is 56.42%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WM shares. Wells Fargo & Company upped their price target on shares of Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Oppenheimer boosted their price objective on shares of Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Royal Bank Of Canada upped their target price on Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Barclays lowered their price target on Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Finally, Citigroup cut their price objective on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.59.

Insider Buying and Selling

In other news, SVP Johnson Varkey sold 121 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the transaction, the senior vice president owned 9,293 shares in the company, valued at $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at $10,674,944.26. The trade was a 28.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,042 shares of company stock valued at $23,039,777 in the last 90 days. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WM. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after buying an additional 67 shares in the last quarter. RHL Group LLC acquired a new stake in Waste Management during the fourth quarter valued at $29,000. Financial Network Wealth Advisors LLC increased its holdings in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Waste Management in the fourth quarter worth about $29,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.