Waste Management, Inc. (NYSE:WM) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its stake in Waste Management, Inc. (NYSE:WM) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 952,891 shares of the business services provider’s stock after selling 272,458 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Waste Management were worth $192,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WM. Global Wealth Strategies & Associates increased its stake in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Waste Management in the fourth quarter valued at $28,000. General Partner Inc. purchased a new stake in shares of Waste Management in the 4th quarter worth about $29,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management in the 4th quarter valued at about $33,000. Finally, Hurley Capital LLC purchased a new position in Waste Management during the 4th quarter valued at about $34,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE WM opened at $229.74 on Wednesday. The business’s 50-day simple moving average is $227.94 and its 200-day simple moving average is $219.32. The firm has a market capitalization of $92.43 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.71 and a beta of 0.66. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.825 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

WM has been the topic of several research reports. Jefferies Financial Group lowered their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Raymond James increased their target price on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Scotiabank lifted their price objective on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their price target on shares of Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.76.

Insider Activity at Waste Management

In other Waste Management news, SVP Johnson Varkey sold 560 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the transaction, the senior vice president now owns 9,152 shares in the company, valued at $2,014,446.72. The trade was a 5.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John A. Carroll sold 209 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,577 shares of company stock worth $21,662,464. 0.18% of the stock is currently owned by company insiders.

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.