Teachers Insurance & Annuity Association of America Purchases Shares of 12,828 Waste Management, Inc. (WM)

Teachers Insurance & Annuity Association of America purchased a new position in Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,828 shares of the business services provider’s stock, valued at approximately $1,108,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. HL Financial Services LLC lifted its holdings in Waste Management by 20.8% in the 3rd quarter. HL Financial Services LLC now owns 3,584 shares of the business services provider’s stock worth $280,000 after purchasing an additional 618 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in Waste Management by 20.3% in the 4th quarter. Oakworth Capital Inc. now owns 3,796 shares of the business services provider’s stock worth $312,000 after purchasing an additional 641 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in Waste Management by 7.1% in the 4th quarter. Sowell Financial Services LLC now owns 9,653 shares of the business services provider’s stock worth $849,000 after purchasing an additional 644 shares in the last quarter. Pittenger & Anderson Inc. increased its stake in Waste Management by 0.9% in the 3rd quarter. Pittenger & Anderson Inc. now owns 78,895 shares of the business services provider’s stock worth $6,175,000 after acquiring an additional 665 shares during the last quarter. Finally, Trustmark National Bank Trust Department increased its stake in Waste Management by 12.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 6,034 shares of the business services provider’s stock worth $472,000 after acquiring an additional 685 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors.

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WM has been the topic of a number of research reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Tuesday, December 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday, February 16th. Finally, UBS Group raised Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Ten analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $90.13.

Shares of Waste Management, Inc. (WM) opened at $86.67 on Tuesday. 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 stock has a market capitalization of $37,820.70, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.97 and a beta of 0.70.

Waste Management (NYSE:WM) last released its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. sell-side analysts expect that Waste Management, Inc. will post 4.04 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a dividend of $0.465 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.86 annualized dividend and a dividend yield of 2.15%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. Waste Management’s payout ratio is currently 42.18%.

Waste Management declared that its board has authorized a stock buyback plan on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

In other news, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 856 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.11, for a total value of $71,998.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,291 shares of company stock worth $9,154,833. Corporate insiders own 0.19% of the company’s stock.

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About Waste Management

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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