Carnegie Investment Counsel Sells 532 Shares of Waste Management, Inc. (NYSE:WM)

Carnegie Investment Counsel trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,711 shares of the business services provider’s stock after selling 532 shares during the quarter. Carnegie Investment Counsel’s holdings in Waste Management were worth $9,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Activest Wealth Management lifted its position in Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates raised its stake in Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in Waste Management during the fourth quarter worth $29,000. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the second quarter worth $36,000. Finally, Fairscale Capital LLC acquired a new position in Waste Management during the second quarter worth $39,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

WM opened at $211.02 on Friday. The firm has a market cap of $84.70 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.10 and a beta of 0.77. Waste Management, Inc. has a 52-week low of $180.25 and a 52-week high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The business’s fifty day moving average is $214.24 and its 200-day moving average is $211.23.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WM. Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their target price on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective on the stock. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus lifted their target price on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

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.