RWC Asset Management LLP Invests $7.16 Million in Waste Management, Inc. (NYSE:WM)

RWC Asset Management LLP bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 35,475 shares of the business services provider’s stock, valued at approximately $7,158,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Bartlett & CO. Wealth Management LLC boosted its position in shares of Waste Management by 0.8% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider’s stock valued at $56,135,000 after acquiring an additional 2,127 shares during the period. Nordea Investment Management AB raised its stake in Waste Management by 7.1% during the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after purchasing an additional 5,367 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Waste Management by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock worth $99,759,000 after purchasing an additional 28,266 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Waste Management by 32.3% during the fourth quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider’s stock valued at $1,529,000 after buying an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $227.89 on Monday. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $230.39. The stock has a 50-day simple moving average of $213.43 and a 200 day simple moving average of $213.12. 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 capitalization of $91.63 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.71 and a beta of 0.78.

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

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.825 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, March 14th. Waste Management’s dividend payout ratio (DPR) is 44.12%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 4,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $225.89, for a total transaction of $903,560.00. Following the completion of the sale, the senior vice president now directly owns 18,531 shares of the company’s stock, valued at approximately $4,185,967.59. The trade was a 17.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 5,826 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,294,071.12. Following the completion of the transaction, the chief financial officer now directly owns 69,442 shares in the company, valued at $15,424,457.04. This trade represents a 7.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,055 shares of company stock worth $3,578,340 over the last 90 days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WM shares. Morgan Stanley lifted 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. William Blair restated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. CIBC raised their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Argus lifted their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.