Magnetar Financial LLC Has $5.61 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Magnetar Financial LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,808 shares of the business services provider’s stock after selling 131 shares during the period. Magnetar Financial LLC’s holdings in Waste Management were worth $5,611,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WM. Swedbank AB grew its holdings in shares of Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Empowered Funds LLC grew its holdings in Waste Management by 7.2% during the third quarter. Empowered Funds LLC now owns 7,561 shares of the business services provider’s stock valued at $1,570,000 after purchasing an additional 510 shares during the period. Thrivent Financial for Lutherans grew its holdings in Waste Management by 27.7% during the third quarter. Thrivent Financial for Lutherans now owns 62,629 shares of the business services provider’s stock valued at $13,002,000 after purchasing an additional 13,604 shares during the period. Pathstone Holdings LLC grew its holdings in Waste Management by 9.1% during the third quarter. Pathstone Holdings LLC now owns 63,403 shares of the business services provider’s stock valued at $13,163,000 after purchasing an additional 5,296 shares during the period. Finally, Caprock Group LLC grew its holdings in Waste Management by 3.9% during the third quarter. Caprock Group LLC now owns 7,463 shares of the business services provider’s stock valued at $1,549,000 after purchasing an additional 283 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Johnson Varkey sold 560 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the completion of the sale, 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 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 stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the transaction, the executive vice president now directly owns 85,257 shares of the company’s stock, valued at $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. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.7 %

Shares of NYSE WM opened at $227.37 on Thursday. The company’s 50-day simple moving average is $221.92 and its 200-day simple moving average is $215.65. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $235.81. The firm has a market cap of $91.43 billion, a price-to-earnings ratio of 33.44, 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.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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 return on equity of 37.93% and a net margin of 12.45%. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared 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 represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio (DPR) is currently 48.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James increased their price objective on 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 price objective 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. Jefferies Financial Group reduced their target price on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Finally, Stifel Nicolaus raised their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Nine research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.