Tilt Investment Management Holdings PBC Lowers Stake in Waste Management, Inc. (NYSE:WM)

Tilt Investment Management Holdings PBC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 89.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,492 shares of the business services provider’s stock after selling 12,179 shares during the quarter. Tilt Investment Management Holdings PBC’s holdings in Waste Management were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley grew its holdings in shares of Waste Management by 30.4% during the fourth quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock worth $1,156,281,000 after buying an additional 1,718,449 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after acquiring an additional 776,491 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after acquiring an additional 66,816 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Waste Management by 3.2% in the fourth quarter. Lazard Asset Management LLC now owns 5,112,019 shares of the business services provider’s stock worth $801,972,000 after acquiring an additional 160,466 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Waste Management by 110,208.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,778,550 shares of the business services provider’s stock worth $749,659,000 after acquiring an additional 4,774,218 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HSBC cut shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a research report on Thursday, February 15th. Erste Group Bank raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Citigroup boosted their target price on shares of Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.85.

Insider Activity

In other news, EVP John J. Morris sold 8,889 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP John J. Morris sold 8,889 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at $19,804,339.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald J. Smith sold 329 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the completion of the sale, the vice president now directly owns 5,522 shares of the company’s stock, valued at $1,096,448.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. 0.18% of the stock is owned by company insiders.

Waste Management Stock Up 0.0 %

Shares of Waste Management stock opened at $205.17 on Friday. The stock has a market capitalization of $82.33 billion, a P/E ratio of 36.23, a PEG ratio of 3.13 and a beta of 0.72. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The stock has a 50 day moving average price of $206.94 and a two-hundred day moving average price of $184.57. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54.

Waste Management (NYSE:WM) last announced its earnings results on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.21. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Waste Management had a return on equity of 36.51% and a net margin of 11.28%. During the same quarter in the prior year, the business earned $1.30 earnings per share. Equities analysts expect that Waste Management, Inc. will post 6.88 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, March 14th. Waste Management’s dividend payout ratio is currently 53.00%.

Waste Management Profile

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.