Fiduciary Financial Group LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Fiduciary Financial Group LLC acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,291 shares of the business services provider's stock, valued at approximately $292,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after buying an additional 538,567 shares in the last quarter. Geode Capital Management LLC increased its stake in Waste Management by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock worth $1,654,173,000 after purchasing an additional 64,260 shares during the period. Parnassus Investments LLC boosted its position in Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after buying an additional 1,151,237 shares during the period. Norges Bank bought a new position in Waste Management in the fourth quarter worth approximately $1,009,726,000. Finally, Ameriprise Financial Inc. increased its position in Waste Management by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after purchasing an additional 224,279 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM traded up $1.32 during midday trading on Thursday, reaching $235.61. 379,713 shares of the company's stock traded hands, compared to its average volume of 1,616,873. The stock has a 50 day moving average of $231.42 and a 200 day moving average of $223.70. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The company has a market cap of $94.81 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 2.71 and a beta of 0.66. 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 (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same period last year, the company earned $1.75 EPS. Waste Management's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, June 6th. Waste Management's dividend payout ratio is presently 49.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WM shares. Melius began coverage on Waste Management in a research report on Monday. They set a "buy" rating on the stock. Robert W. Baird raised their target price on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. CIBC boosted their target price on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Finally, Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus price target of $248.00.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.