Fort L.P. Grows Stake in Waste Management, Inc. (WM)
Fort L.P. grew its position in Waste Management, Inc. (NYSE:WM) by 537.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 854 shares of the business services provider’s stock after acquiring an additional 720 shares during the quarter. Fort L.P.’s holdings in Waste Management were worth $76,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RB Capital Management LLC increased its stake in Waste Management by 4.2% during the fourth quarter. RB Capital Management LLC now owns 2,746 shares of the business services provider’s stock worth $244,000 after acquiring an additional 110 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Waste Management by 36.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 415 shares of the business services provider’s stock worth $37,000 after acquiring an additional 110 shares during the last quarter. Winch Advisory Services LLC increased its stake in Waste Management by 17.3% during the fourth quarter. Winch Advisory Services LLC now owns 772 shares of the business services provider’s stock worth $69,000 after acquiring an additional 114 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Waste Management by 0.7% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,687 shares of the business services provider’s stock worth $1,396,000 after acquiring an additional 114 shares during the last quarter. Finally, Park National Corp OH increased its stake in Waste Management by 1.1% during the fourth quarter. Park National Corp OH now owns 10,654 shares of the business services provider’s stock worth $948,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.
WM has been the subject of several recent analyst reports. Zacks Investment Research reissued a “hold” rating and set a $103.00 target price on shares of Waste Management in a research note on Saturday, November 17th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and raised their target price for the stock from $84.00 to $107.00 in a research note on Tuesday, December 4th. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $103.00 in a research note on Thursday, January 10th. KeyCorp initiated coverage on Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 target price for the company. Finally, Oppenheimer raised their target price on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $101.00.
Shares of NYSE WM opened at $100.97 on Friday. Waste Management, Inc. has a twelve month low of $79.96 and a twelve month high of $101.78. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $43.05 billion, a PE ratio of 24.04, a PEG ratio of 2.49 and a beta of 0.67.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Waste Management, Inc. will post 4.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be paid a $0.5125 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 dividend on an annualized basis and a dividend yield of 2.03%. Waste Management’s payout ratio is presently 48.81%.
Waste Management declared that its board has initiated a share buyback plan on Thursday, December 13th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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Waste Management 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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