Haverford Trust Co Cuts Position in Waste Management, Inc. (NYSE:WM)

Haverford Trust Co reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.2% in the fourth quarter, Holdings Channel reports. The fund owned 29,872 shares of the business services provider’s stock after selling 71 shares during the quarter. Haverford Trust Co’s holdings in Waste Management were worth $6,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Prudential Financial Inc. raised its holdings in Waste Management by 4.0% during the 4th quarter. Prudential Financial Inc. now owns 231,987 shares of the business services provider’s stock valued at $46,813,000 after acquiring an additional 9,014 shares during the period. Congress Wealth Management LLC DE increased its position in shares of Waste Management by 36.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,078 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 555 shares during the last quarter. Clune & Associates LTD. purchased a new position in shares of Waste Management during the fourth quarter worth approximately $501,000. Crowley Wealth Management Inc. purchased a new position in Waste Management in the 4th quarter worth $603,000. Finally, Partners Group Holding AG lifted its stake in shares of Waste Management by 50.0% in the 4th quarter. Partners Group Holding AG now owns 179,361 shares of the business services provider’s stock valued at $36,193,000 after acquiring an additional 59,769 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

NYSE:WM opened at $224.76 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $235.81. The business’s 50-day moving average is $222.69 and its 200 day moving average is $215.91. The company has a market capitalization of $90.38 billion, a P/E ratio of 33.05, a P/E/G ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 annualized dividend and a yield of 1.47%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio (DPR) is presently 48.53%.

Analyst Ratings Changes

WM has been the subject of a number of recent analyst reports. Scotiabank upped their price target on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group lowered their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Citigroup increased their price target on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.65.

Insider Activity

In other news, SVP Johnson Varkey sold 124 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total transaction of $29,135.04. Following the transaction, the senior vice president now directly owns 8,491 shares in the company, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John A. Carroll sold 1,251 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $225.92, for a total value of $282,625.92. Following the sale, the chief accounting officer now owns 8,420 shares of the company’s stock, valued at approximately $1,902,246.40. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by insiders.

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.