Waste Management, Inc. (NYSE:WM) Short Interest Update

by · The Markets Daily

Waste Management, Inc. (NYSE:WM – Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 5,971,202 shares, a growth of 19.3% from the February 26th total of 5,005,276 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 2,680,126 shares, the days-to-cover ratio is currently 2.2 days.

Waste Management News Summary

Here are the key news stories impacting Waste Management this week:

Waste Management Stock Performance

WM traded down $0.23 during midday trading on Tuesday, hitting $229.73. 1,769,260 shares of the company were exchanged, compared to its average volume of 2,208,292. The firm has a market capitalization of $92.66 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 2.43 and a beta of 0.57. The company’s 50 day simple moving average is $232.23 and its 200 day simple moving average is $220.89. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM – Get Free Report) last posted its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 earnings per share. As a group, sell-side analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.945 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, March 13th. Waste Management’s dividend payout ratio (DPR) is currently 56.42%.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 17,251 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares in the company, valued at approximately $10,674,944.26. The trade was a 28.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 30,390 shares of Waste Management stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the completion of the transaction, the chief executive officer directly owned 225,793 shares in the company, valued at approximately $52,013,675.48. The trade was a 11.86% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 98,042 shares of company stock worth $23,039,777. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its position in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Sprott Inc. acquired a new position in Waste Management in the 1st quarter valued at $325,000. Northwestern Mutual Wealth Management Co. boosted its stake in Waste Management by 1.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,773 shares of the business services provider’s stock worth $12,533,000 after purchasing an additional 593 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Waste Management during the second quarter worth $40,000. Finally, Lido Advisors LLC raised its position in shares of Waste Management by 15.7% in the second quarter. Lido Advisors LLC now owns 22,079 shares of the business services provider’s stock valued at $5,052,000 after buying an additional 2,991 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the topic of several research reports. Weiss Ratings raised Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Oppenheimer boosted their price target on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Barclays cut their price objective on Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Citigroup decreased their target price on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, TD Cowen upped their target price on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.59.

View Our Latest Research Report on Waste Management

Waste Management Company Profile

(Get Free Report)

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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