Rafferty Asset Management LLC Raises Holdings in Waste Management, Inc. (NYSE:WM)

Rafferty Asset Management LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 11.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,115 shares of the business services provider’s stock after purchasing an additional 3,493 shares during the quarter. Rafferty Asset Management LLC’s holdings in Waste Management were worth $6,884,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in WM. Transce3nd LLC purchased a new stake in Waste Management in the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management in the 4th quarter valued at $33,000. Hurley Capital LLC purchased a new stake in Waste Management in the 4th quarter valued at $34,000. Sugar Maple Asset Management LLC purchased a new stake in Waste Management in the 4th quarter valued at $35,000. Finally, Pineridge Advisors LLC purchased a new stake in Waste Management in the 4th quarter valued at $35,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

WM stock opened at $229.76 on Friday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The firm has a market capitalization of $92.46 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.71 and a beta of 0.67. The business’s 50-day moving average is $228.33 and its two-hundred day moving average is $221.63. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $239.32.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same quarter last year, the company earned $1.75 EPS. Waste Management’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. Waste Management’s payout ratio is currently 49.77%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WM shares. Raymond James upped 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 reiterated an “outperform” rating on shares of Waste Management in a report on Tuesday, April 29th. Robert W. Baird increased their price target on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Oppenheimer increased their price target on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $243.29.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 5,732 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $227.51, for a total transaction of $1,304,087.32. Following the transaction, the vice president now directly owns 55,587 shares in the company, valued at approximately $12,646,598.37. This trade represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the transaction, the chief executive officer now owns 211,061 shares in the company, valued at approximately $48,212,664.23. This trade represents a 17.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,522 shares of company stock valued at $18,084,124. 0.18% of the stock is owned by corporate insiders.

About Waste Management

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.