Hilltop Holdings Inc. Lowers Position in Waste Management, Inc. (WM)
Hilltop Holdings Inc. trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,382 shares of the business services provider’s stock after selling 113 shares during the period. Hilltop Holdings Inc.’s holdings in Waste Management were worth $302,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $26,000. We Are One Seven LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $27,000. Gantzert Investment Co. LLC ADV bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $31,000. Finally, Athena Capital Advisors LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
WM has been the topic of several recent analyst reports. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. Oppenheimer boosted their target price on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. KeyCorp initiated coverage on Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $103.00 in a report on Thursday, January 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $101.00.
NYSE:WM opened at $100.80 on Thursday. Waste Management, Inc. has a 52-week low of $79.96 and a 52-week high of $101.95. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market cap of $42.98 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 2.66 and a beta of 0.67.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Waste Management, Inc. will post 4.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be issued a dividend of $0.5125 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.05 annualized dividend and a yield of 2.03%. Waste Management’s dividend payout ratio is currently 48.81%.
Waste Management announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 13th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Waste Management Company 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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