Waste Management, Inc. (NYSE:WM) Short Interest Down 17.3% in December

Waste Management, Inc. (NYSE:WM) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 4,447,387 shares, a decline of 17.3% from the November 30th total of 5,378,171 shares. Based on an average daily trading volume, of 2,098,584 shares, the short-interest ratio is currently 2.1 days. Approximately 1.1% of the shares of the stock are short sold. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,098,584 shares, the short-interest ratio is currently 2.1 days.

Insider Activity

In other news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several hedge funds have recently modified their holdings of WM. Cornerstone Planning Group LLC lifted its position in Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Waste Management in the third quarter worth about $30,000. Loomis Sayles & Co. L P acquired a new stake in Waste Management in the second quarter worth about $40,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Waste Management during the third quarter worth about $41,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of Waste Management during the second quarter valued at about $43,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 1.1%

Shares of Waste Management stock opened at $219.76 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The stock has a market cap of $88.53 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 2.71 and a beta of 0.59. The firm’s 50-day moving average is $212.21 and its two-hundred day moving average is $220.25. Waste Management has a 1 year low of $194.11 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.96 EPS. As a group, research analysts expect that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group cut their price target on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Citigroup raised their price target on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group started coverage on Waste Management in a research report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Finally, Baird R W upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.95.

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.