RB Capital Management LLC Cuts Position in Waste Management, Inc. (NYSE:WM)

RB Capital Management LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,478 shares of the business services provider’s stock after selling 137 shares during the period. Waste Management accounts for approximately 0.9% of RB Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. RB Capital Management LLC’s holdings in Waste Management were worth $3,130,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gilfoyle & Co LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $30,000. Millburn Ridgefield Corp acquired a new position in shares of Waste Management during the third quarter valued at approximately $35,000. Rational Advisors LLC purchased a new position in shares of Waste Management in the third quarter valued at approximately $41,000. Annapolis Financial Services LLC boosted its stake in shares of Waste Management by 40.1% in the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock worth $50,000 after acquiring an additional 93 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Waste Management during the third quarter worth approximately $51,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other news, VP Donald J. Smith sold 329 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total transaction of $65,326.24. Following the sale, the vice president now owns 5,522 shares in the company, valued at $1,096,448.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Waste Management news, VP Donald J. Smith sold 329 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the sale, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles C. Boettcher sold 2,500 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The disclosure for this sale can be found here. In the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.6 %

WM traded down $1.26 on Wednesday, reaching $206.76. 1,343,104 shares of the company traded hands, compared to its average volume of 1,674,145. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market cap of $82.93 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.80 and a beta of 0.72. The stock’s 50 day moving average price is $208.88 and its 200-day moving average price is $188.04.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company posted $1.31 earnings per share. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 7.19 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is 49.10%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WM. Morgan Stanley boosted their target price on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Jefferies Financial Group lifted their price target on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, March 18th. CIBC raised their price objective on shares of Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Truist Financial increased their price target on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.24.

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.