Chesapeake Wealth Management Decreases Holdings in Waste Management, Inc. (NYSE:WM)

Chesapeake Wealth Management cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,379 shares of the business services provider’s stock after selling 160 shares during the quarter. Chesapeake Wealth Management’s holdings in Waste Management were worth $278,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WM. Activest Wealth Management grew its stake in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the period. Global Wealth Strategies & Associates grew its stake in shares of Waste Management by 892.9% during the 4th 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 during the period. General Partner Inc. bought a new position in shares of Waste Management during the 4th quarter worth $29,000. Sugar Maple Asset Management LLC bought a new position in Waste Management in the 4th quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the second quarter worth about $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WM has been the subject of a number of recent analyst reports. CIBC boosted their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Argus upped their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Finally, Royal Bank of Canada increased their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from 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 related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

Shares of NYSE WM opened at $211.79 on Tuesday. Waste Management, Inc. has a fifty-two week low of $181.56 and a fifty-two week high of $230.39. The company has a 50 day simple moving average of $213.80 and a two-hundred day simple moving average of $211.26. The company has a market capitalization of $85.01 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.14 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. Analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Waste Management Company 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.