Illumine Investment Management LLC Buys New Stake in Waste Management, Inc. (NYSE:WM)

Illumine Investment Management LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,934 shares of the business services provider’s stock, valued at approximately $592,000.

A number of other institutional investors also recently made changes to their positions in WM. Aberdeen Wealth Management LLC raised its holdings in Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Waste Management by 0.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider’s stock worth $1,366,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after buying an additional 46 shares during the period. Catalyst Financial Partners LLC boosted its stake in Waste Management by 2.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock valued at $411,000 after buying an additional 48 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC raised its position in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after acquiring an additional 49 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In other news, CAO John A. Carroll sold 209 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now directly owns 9,066 shares in the company, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,192 shares of company stock worth $15,025,861. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Up 0.5 %

Shares of WM opened at $229.73 on Friday. 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 stock has a market cap of $92.38 billion, a price-to-earnings ratio of 33.78, a P/E/G ratio of 2.71 and a beta of 0.78. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $232.44. The company has a 50-day moving average price of $215.17 and a two-hundred day moving average price of $213.69.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) 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%. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WM shares. Citigroup upped their target price on Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James increased their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, CIBC boosted their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.94.

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.