Core Alternative Capital Sells 2,692 Shares of Waste Management, Inc. (NYSE:WM)

Core Alternative Capital reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,595 shares of the business services provider’s stock after selling 2,692 shares during the period. Waste Management makes up approximately 1.8% of Core Alternative Capital’s investment portfolio, making the stock its 13th biggest position. Core Alternative Capital’s holdings in Waste Management were worth $8,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Global Wealth Strategies & Associates grew its stake in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares during the last quarter. General Partner Inc. acquired a new position in shares of Waste Management during the fourth quarter worth $29,000. Sugar Maple Asset Management LLC bought a new position in shares of Waste Management in the 4th quarter valued at $35,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Waste Management by 65.7% during the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Up 0.5 %

WM opened at $225.95 on Tuesday. The company has a fifty day moving average price of $211.84 and a two-hundred day moving average price of $211.35. Waste Management, Inc. has a 1-year low of $187.48 and a 1-year high of $230.39. The company has a market cap of $90.69 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 44.12%.

Insider Buying and Selling at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 693 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the sale, the executive vice president now directly owns 45,542 shares of the company’s stock, valued at approximately $10,046,109.78. The trade was a 1.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the transaction, the senior vice president now owns 18,531 shares in the company, valued at $4,185,967.59. This represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,055 shares of company stock worth $3,578,340. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on WM. Royal Bank of Canada increased their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. UBS Group boosted their target price on shares of 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. lifted their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, CIBC increased their price objective on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.50.

About Waste Management

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.