Waste Management, Inc. $WM Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC lifted its stake in Waste Management, Inc. (NYSE:WM) by 138.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,808 shares of the business services provider’s stock after purchasing an additional 30,661 shares during the period. Waste Management comprises about 1.1% of Royal Fund Management LLC’s holdings, making the stock its 21st largest holding. Royal Fund Management LLC’s holdings in Waste Management were worth $11,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC boosted its stake in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Waste Management during the third quarter worth approximately $30,000. Loomis Sayles & Co. L P acquired a new stake in Waste Management in the second quarter valued at approximately $40,000. Holos Integrated Wealth LLC purchased a new position in Waste Management in the fourth quarter worth approximately $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Waste Management during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $229.79 on Tuesday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The firm has a market capitalization of $92.68 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.38 and a beta of 0.57. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The company’s fifty day moving average price is $232.23 and its 200 day moving average price is $220.89.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the previous year, the business posted $1.70 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.6%. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, March 13th. Waste Management’s dividend payout ratio is presently 56.42%.

Insider Buying and Selling

In other news, SVP Johnson Varkey sold 121 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president directly owned 9,293 shares of the company’s stock, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the completion of the transaction, the vice president directly owned 6,024 shares in the company, valued at $1,406,483.52. The trade was a 66.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,042 shares of company stock valued at $23,039,777 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WM shares. TD Cowen raised their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 30th. Morgan Stanley dropped their target price on Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Citigroup decreased their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Wells Fargo & Company increased their price objective on Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, Scotiabank reissued a “sector perform” rating and set a $250.00 target price (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.59.

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.