Horizon Investments LLC Increases Holdings in Waste Management, Inc. (NYSE:WM)

Horizon Investments LLC lifted its holdings in Waste Management, Inc. (NYSE:WM) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,149 shares of the business services provider’s stock after purchasing an additional 227 shares during the quarter. Horizon Investments LLC’s holdings in Waste Management were worth $2,452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management raised its stake in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. General Partner Inc. acquired a new position in Waste Management in the fourth quarter valued at approximately $29,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $33,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Stifel Nicolaus increased their price target on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Raymond James increased their target price on shares of Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, CIBC raised their price objective on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.65.

Insider Activity at Waste Management

In related news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Morris sold 19,153 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the completion of the transaction, the executive vice president now owns 85,257 shares in the company, valued at approximately $19,158,100.47. This represents a 18.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,577 shares of company stock worth $21,662,464. 0.18% of the stock is currently owned by company insiders.

Waste Management Trading Down 1.0 %

Shares of Waste Management stock opened at $225.80 on Wednesday. The stock has a market capitalization of $90.80 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The company has a 50-day simple moving average of $221.50 and a 200 day simple moving average of $215.57. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $235.81.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.46%. This is a boost from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is currently 48.53%.

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.