AMI Asset Management Corp Trims Position in Waste Management, Inc. (NYSE:WM)

AMI Asset Management Corp cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 208,344 shares of the business services provider’s stock after selling 4,670 shares during the period. Waste Management accounts for about 2.2% of AMI Asset Management Corp’s holdings, making the stock its 21st biggest holding. AMI Asset Management Corp’s holdings in Waste Management were worth $42,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its holdings in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after buying an additional 280,455 shares in the last quarter. Trium Capital LLP boosted its stake in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Waste Management by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 5,367 shares during the period. Principal Financial Group Inc. raised its holdings in Waste Management by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock worth $99,759,000 after purchasing an additional 28,266 shares during the period. Finally, Czech National Bank boosted its position in Waste Management by 6.4% during the fourth quarter. Czech National Bank now owns 79,192 shares of the business services provider’s stock worth $15,980,000 after purchasing an additional 4,798 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

NYSE:WM opened at $211.79 on Tuesday. Waste Management, Inc. has a 52 week low of $181.56 and a 52 week high of $230.39. The stock’s fifty day moving average is $213.57 and its two-hundred day moving average is $211.27. The company has a market capitalization of $85.01 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.14 and a beta of 0.77. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. Equities analysts expect that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WM. BMO Capital Markets increased their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus upped their price target on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, CIBC lifted their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.