Key Points
- Johnson Varkey, SVP of Waste Management, sold 617 shares on March 3 at an average price of $244.13 for $150,628, reducing his holdings to 9,607 shares (a 6.03% decrease).
- Waste Management raised its quarterly dividend to $0.945 (annualized $3.78, ~1.6% yield), with an ex-dividend date of March 13 and payment on March 27.
- Quarterly results slightly missed expectations — EPS $1.93 vs. $1.95 estimate and revenue $6.31B vs. $6.39B, while analysts maintain a "Moderate Buy" consensus and a $253.55 average price target.
Waste Management, Inc. (NYSE:WM - Get Free Report) SVP Johnson Varkey sold 617 shares of Waste Management stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $244.13, for a total transaction of $150,628.21. Following the transaction, the senior vice president directly owned 9,607 shares of the company's stock, valued at approximately $2,345,356.91. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Johnson Varkey also recently made the following trade(s):
- On Friday, January 30th, Johnson Varkey sold 428 shares of Waste Management stock. The shares were sold at an average price of $219.63, for a total transaction of $94,001.64.
Waste Management Stock Down 0.6%
Shares of WM stock traded down $1.41 during trading hours on Thursday, hitting $242.54. 638,358 shares of the company's stock traded hands, compared to its average volume of 2,279,462. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The stock's fifty day simple moving average is $226.96 and its two-hundred day simple moving average is $219.66. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $244.88. The stock has a market cap of $97.83 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.57 and a beta of 0.57.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.39 billion. During the same period last year, the business earned $1.70 EPS. The firm's quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, March 13th. This is a positive change from Waste Management's previous quarterly dividend of $0.83. Waste Management's dividend payout ratio (DPR) is presently 49.25%.
Institutional Trading of Waste Management
A number of hedge funds have recently bought and sold shares of WM. Elevated Capital Advisors LLC purchased a new position in Waste Management in the fourth quarter worth about $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock worth $29,000 after buying an additional 67 shares during the last quarter. RHL Group LLC bought a new stake in Waste Management during the fourth quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC increased its holdings in Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after buying an additional 47 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.40% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on WM shares. The Goldman Sachs Group started coverage on shares of Waste Management in a report on Monday, November 24th. They issued a "buy" rating and a $256.00 target price for the company. Wells Fargo & Company upped their price objective on Waste Management from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. Barclays cut their target price on Waste Management from $266.00 to $265.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 20th. Oppenheimer boosted their price target on Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Finally, Sanford C. Bernstein lifted their price objective on Waste Management from $255.00 to $260.00 and gave the stock an "outperform" rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.55.
Read Our Latest Analysis on WM
About Waste Management
(
Get Free Report)
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.
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