Tiedemann Advisors LLC Buys New Stake in Waste Management, Inc. (NYSE:WM)
Tiedemann Advisors LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,348 shares of the business services provider’s stock, valued at approximately $310,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Norges Bank purchased a new position in shares of Waste Management in the fourth quarter worth $539,770,000. Capital World Investors raised its holdings in shares of Waste Management by 100.9% in the fourth quarter. Capital World Investors now owns 2,751,601 shares of the business services provider’s stock worth $313,572,000 after buying an additional 1,381,738 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Waste Management by 2,836.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,112,364 shares of the business services provider’s stock worth $126,765,000 after buying an additional 1,074,484 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Waste Management by 12.3% in the fourth quarter. Macquarie Group Ltd. now owns 8,342,672 shares of the business services provider’s stock worth $950,730,000 after buying an additional 915,772 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Waste Management by 398.2% in the fourth quarter. First Trust Advisors LP now owns 1,124,958 shares of the business services provider’s stock worth $128,200,000 after buying an additional 899,152 shares during the last quarter. 74.44% of the stock is owned by institutional investors and hedge funds.
WM stock opened at $95.93 on Friday. The firm has a market cap of $41.01 billion, a PE ratio of 24.29, a P/E/G ratio of 3.22 and a beta of 0.75. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.80 and a current ratio of 1.84. The firm’s fifty day moving average is $97.05 and its 200 day moving average is $110.30. Waste Management, Inc. has a one year low of $85.34 and a one year high of $126.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a $0.545 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.27%. Waste Management’s dividend payout ratio (DPR) is 49.55%.
Several research analysts recently issued reports on WM shares. BMO Capital Markets reduced their target price on shares of Waste Management from $132.00 to $111.00 in a report on Tuesday, March 31st. Royal Bank of Canada cut shares of Waste Management from an “outperform” rating to a “sector perform” rating in a report on Sunday, April 19th. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Tuesday, February 18th. Goldman Sachs Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and set a $115.00 target price for the company. in a report on Friday, March 13th. Finally, UBS Group reduced their target price on shares of Waste Management from $131.00 to $118.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $117.14.
In other news, EVP John J. Morris sold 13,535 shares of Waste Management stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $125.62, for a total value of $1,700,266.70. Following the sale, the executive vice president now owns 111,323 shares in the company, valued at $13,984,395.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 8,000 shares of Waste Management stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $125.14, for a total transaction of $1,001,120.00. Following the completion of the sale, the chief financial officer now owns 25,473 shares in the company, valued at approximately $3,187,691.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,454 shares of company stock worth $16,814,817. Company insiders own 0.16% of the company’s stock.
About Waste Management
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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