Ameritas Advisory Services LLC Raises Stock Holdings in Waste Management, Inc. $WM

Key Points

• Ameritas Advisory Services more than doubled its Waste Management stake in the second quarter, increasing holdings by 118.8% to 14,847 shares valued at approximately $3.3 million. Institutional investors and hedge funds collectively own 80.4% of the stock.
• Waste Management reported quarterly EPS of $2.02, exceeding the $1.98 consensus estimate, while revenue rose 4% year over year to $6.68 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $258.89.
• The company declared a quarterly dividend of $0.945 per share, equivalent to $3.78 annually and a 1.7% yield. Shares recently traded at $217.76, down 0.6%.

Ameritas Advisory Services LLC boosted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 118.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,847 shares of the business services provider's stock after purchasing an additional 8,062 shares during the period. Ameritas Advisory Services LLC's holdings in Waste Management were worth $3,309,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Bey Douglas LLC lifted its position in shares of Waste Management by 3.7% during the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider's stock worth $271,000 after purchasing an additional 44 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in Waste Management by 10.2% in the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider's stock valued at $111,000 after purchasing an additional 45 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Waste Management by 0.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 6,348 shares of the business services provider's stock worth $1,395,000 after purchasing an additional 46 shares in the last quarter. Cornerstone Advisory LLC lifted its position in shares of Waste Management by 1.6% during the 1st quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider's stock worth $683,000 after buying an additional 46 shares during the last quarter. Finally, Coordinated Financial Services Inc. raised its stake in Waste Management by 3.5% during the 4th quarter. Coordinated Financial Services Inc. now owns 1,386 shares of the business services provider's stock worth $305,000 after acquiring an additional 47 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 0.6%

Shares of Waste Management stock opened at $217.76 on Wednesday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company's 50-day simple moving average is $228.29 and its 200-day simple moving average is $226.90. The firm has a market cap of $87.04 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.Waste Management's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 earnings per share. As a group, equities research analysts anticipate that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management's payout ratio is 53.54%.

Insider Buying and Selling at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the sale, the chief accounting officer owned 3,509 shares in the company, valued at $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WM shares. Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Citigroup upped their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Scotiabank increased their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada upped their target price on shares of Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Company Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.

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