Riverhead Capital Management LLC Reduces Position in Waste Management, Inc. (NYSE:WM)

Riverhead Capital Management LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 20.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,572 shares of the business services provider’s stock after selling 8,307 shares during the period. Riverhead Capital Management LLC’s holdings in Waste Management were worth $3,384,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Hancock Whitney Corp lifted its stake in shares of Waste Management by 0.8% in the 1st quarter. Hancock Whitney Corp now owns 12,367 shares of the business services provider’s stock valued at $1,284,000 after purchasing an additional 94 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of Waste Management by 2.1% in the 1st quarter. IFG Advisory LLC now owns 4,846 shares of the business services provider’s stock valued at $503,000 after purchasing an additional 99 shares during the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Waste Management by 1.5% in the 1st quarter. CHICAGO TRUST Co NA now owns 6,933 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 100 shares during the last quarter. Welch & Forbes LLC lifted its stake in shares of Waste Management by 1.9% in the 1st quarter. Welch & Forbes LLC now owns 5,485 shares of the business services provider’s stock valued at $570,000 after purchasing an additional 100 shares during the last quarter. Finally, Shepherd Financial Partners LLC lifted its stake in shares of Waste Management by 3.0% in the 1st quarter. Shepherd Financial Partners LLC now owns 3,476 shares of the business services provider’s stock valued at $361,000 after purchasing an additional 102 shares during the last quarter. 73.71% of the stock is owned by institutional investors.

In other news, EVP John J. Morris sold 42,795 shares of Waste Management stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at approximately $10,779,698.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Watson sold 700 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the sale, the vice president now directly owns 9,518 shares of the company’s stock, valued at approximately $995,106.90. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

WM traded up $0.22 during trading on Friday, hitting $113.87. 198,755 shares of the stock were exchanged, compared to its average volume of 1,707,398. The company has a market capitalization of $48.27 billion, a P/E ratio of 27.11, a PEG ratio of 3.10 and a beta of 0.62. Waste Management, Inc. has a 1 year low of $79.96 and a 1 year high of $115.42. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45.

Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. Waste Management’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Equities analysts anticipate that Waste Management, Inc. will post 4.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.5125 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.05 annualized dividend and a yield of 1.80%. Waste Management’s payout ratio is currently 48.81%.

WM has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on Waste Management from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. KeyCorp increased their price target on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and increased their price target for the stock from $103.00 to $106.00 in a report on Thursday, April 4th. Oppenheimer increased their price target on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Argus raised their price objective on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $111.11.

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About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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