Valeo Financial Advisors LLC Increases Stake in Waste Management, Inc. (NYSE:WM)
Valeo Financial Advisors LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 547.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,782 shares of the business services provider’s stock after buying an additional 2,352 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Waste Management were worth $240,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. MHI Funds LLC bought a new stake in Waste Management during the 4th quarter valued at $184,000. Horan Capital Advisors LLC. purchased a new stake in shares of Waste Management during the 3rd quarter valued at $186,000. Cerebellum GP LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at $186,000. Capital Guardian Trust Co. purchased a new stake in shares of Waste Management during the 3rd quarter valued at $193,000. Finally, FTB Advisors Inc. lifted its holdings in shares of Waste Management by 44.2% during the 4th quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after purchasing an additional 700 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors.
Waste Management, Inc. (WM) opened at $86.25 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45. Waste Management, Inc. has a 12 month low of $70.08 and a 12 month high of $89.73. The firm has a market cap of $37,400.00, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be given a $0.465 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.86 dividend on an annualized basis and a yield of 2.16%. Waste Management’s payout ratio is presently 32.18%.
Waste Management declared that its Board of Directors has approved a share repurchase program on Thursday, December 14th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of equities analysts recently issued reports on WM shares. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. UBS Group began coverage on Waste Management in a research report on Wednesday. They set a “neutral” rating and a $93.00 price target on the stock. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Stifel Nicolaus restated a “buy” rating and set a $100.00 target price on shares of Waste Management in a research report on Thursday, January 4th. Finally, Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $90.44.
In other Waste Management news, VP Jeff M. Harris sold 8,820 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $87.80, for a total value of $774,396.00. Following the completion of the transaction, the vice president now owns 80,203 shares in the company, valued at $7,041,823.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total transaction of $34,172.10. Following the transaction, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. In the last three months, insiders sold 106,291 shares of company stock worth $9,154,833. 0.19% of the stock is owned by corporate insiders.
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Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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