Evercore Wealth Management LLC Reduces Stake in Waste Management, Inc. (NYSE:WM)

Evercore Wealth Management LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,398 shares of the business services provider’s stock after selling 1,267 shares during the period. Evercore Wealth Management LLC’s holdings in Waste Management were worth $955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Merit Financial Group LLC purchased a new stake in Waste Management during the 1st quarter worth about $753,000. State of Wisconsin Investment Board increased its stake in Waste Management by 7.4% in the 1st quarter. State of Wisconsin Investment Board now owns 362,677 shares of the business services provider’s stock worth $46,793,000 after acquiring an additional 25,089 shares during the last quarter. Morgan Stanley increased its stake in Waste Management by 1.4% in the 1st quarter. Morgan Stanley now owns 3,468,773 shares of the business services provider’s stock worth $447,540,000 after acquiring an additional 48,678 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Waste Management in the 1st quarter worth about $979,000. Finally, Psagot Investment House Ltd. increased its stake in Waste Management by 7.6% in the 1st quarter. Psagot Investment House Ltd. now owns 2,928 shares of the business services provider’s stock worth $378,000 after acquiring an additional 207 shares during the last quarter. 74.15% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. BMO Capital Markets upped their target price on Waste Management from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. The Goldman Sachs Group initiated coverage on Waste Management in a research report on Wednesday, April 7th. They set a “buy” rating and a $145.00 price objective on the stock. Morgan Stanley increased their price objective on Waste Management from $133.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Waste Management from $119.00 to $138.00 and gave the company a “hold” rating in a research report on Wednesday, April 28th. Finally, Raymond James increased their price objective on Waste Management from $144.00 to $147.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $132.75.

Shares of WM stock opened at $144.85 on Thursday. The stock has a market cap of $61.15 billion, a PE ratio of 34.90, a PEG ratio of 2.50 and a beta of 0.81. Waste Management, Inc. has a 1-year low of $106.11 and a 1-year high of $146.92. The firm’s 50-day moving average is $141.06. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.01 and a quick ratio of 0.98.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 27th. The business services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Waste Management had a return on equity of 24.44% and a net margin of 9.97%. Waste Management’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. Research analysts anticipate that Waste Management, Inc. will post 4.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Shareholders of record on Friday, June 4th were issued a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, June 3rd. Waste Management’s dividend payout ratio (DPR) is currently 57.07%.

In other Waste Management news, CEO James C. Fish, Jr. sold 131,625 shares of the stock in a transaction that occurred on Tuesday, June 1st. The stock was sold at an average price of $140.50, for a total value of $18,493,312.50. Following the completion of the sale, the chief executive officer now owns 284,012 shares in the company, valued at approximately $39,903,686. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Leslie K. Nagy sold 2,006 shares of the stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $139.06, for a total value of $278,954.36. Following the completion of the sale, the chief accounting officer now owns 4,776 shares of the company’s stock, valued at approximately $664,150.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,042 shares of company stock valued at $19,971,447. Company insiders own 0.16% of the company’s stock.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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

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