Raymond James Financial Inc. Purchases Shares of 1,687,946 Waste Management, Inc. (NYSE:WM)

Raymond James Financial Inc. acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,687,946 shares of the business services provider’s stock, valued at approximately $340,611,000. Raymond James Financial Inc. owned approximately 0.42% of Waste Management at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Aberdeen Wealth Management LLC lifted its holdings in Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Waste Management by 0.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider’s stock valued at $1,366,000 after buying an additional 45 shares during the period. Signature Estate & Investment Advisors LLC boosted its position in Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in Waste Management by 2.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock worth $411,000 after acquiring an additional 48 shares during the period. Finally, Maia Wealth LLC raised its holdings in Waste Management by 4.1% in the 4th quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider’s stock valued at $259,000 after acquiring an additional 48 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of NYSE:WM opened at $225.83 on Friday. The business’s 50-day simple moving average is $217.71 and its 200 day simple moving average is $214.57. The company has a market cap of $90.81 billion, a P/E ratio of 33.21, a PEG ratio of 2.71 and a beta of 0.75. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. Waste Management, Inc. has a one year low of $196.59 and a one year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, sell-side analysts forecast 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. Shareholders of record on Friday, March 14th will be given a $0.825 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, March 14th. Waste Management’s dividend payout ratio is presently 48.53%.

Insider Activity

In related news, VP Donald J. Smith sold 191 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.22, for a total value of $42,062.02. Following the sale, the vice president now directly owns 6,129 shares of the company’s stock, valued at $1,349,728.38. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Johnson Varkey sold 560 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the transaction, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock worth $17,075,967 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the topic of several analyst reports. Raymond James raised their price objective on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. StockNews.com lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Oppenheimer boosted their target price on shares of Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their price target on shares of Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Nine 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.65.

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.