Shelter Rock Management LLC Makes New $4.11 Million Investment in Waste Management, Inc. $WM

Shelter Rock Management LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,682 shares of the business services provider’s stock, valued at approximately $4,105,000. Waste Management comprises about 4.1% of Shelter Rock Management LLC’s portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in WM. Elevated Capital Advisors LLC bought a new stake in Waste Management during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC grew its holdings in Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after acquiring an additional 67 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Waste Management during the 3rd quarter worth about $30,000. Kelleher Financial Advisors bought a new stake in Waste Management during the 4th quarter worth about $31,000. Finally, Holos Integrated Wealth LLC bought a new stake in Waste Management during the 4th quarter worth about $40,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In related news, SVP Tara J. Hemmer sold 4,818 shares of Waste Management stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the transaction, the senior vice president owned 78,918 shares of the company’s stock, valued at $19,084,739.94. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Johnson Varkey sold 617 shares of Waste Management stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $244.13, for a total transaction of $150,628.21. Following the transaction, the senior vice president directly owned 9,607 shares in the company, valued at $2,345,356.91. The trade was a 6.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 35,296 shares of company stock worth $8,569,283 over the last quarter. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WM. TD Cowen raised their target price on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Barclays raised their target price on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Robert W. Baird raised their target price on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Oppenheimer raised their target price on shares of Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.67.

Waste Management Stock Up 0.2%

Shares of NYSE WM opened at $218.09 on Friday. The firm’s 50-day moving average is $227.00 and its 200-day moving average is $223.51. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a market capitalization of $87.58 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm earned $1.67 EPS. Waste Management’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.

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.