Axxcess Wealth Management LLC Has $2.99 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

Axxcess Wealth Management LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,900 shares of the business services provider's stock after selling 1,150 shares during the period. Axxcess Wealth Management LLC's holdings in Waste Management were worth $2,987,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WM. Norges Bank bought a new position in shares of Waste Management in the 4th quarter worth about $1,009,726,000. GAMMA Investing LLC lifted its position in shares of Waste Management by 26,095.2% in the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock worth $442,038,000 after buying an additional 1,902,081 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Waste Management by 250.1% in the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock worth $334,716,000 after buying an additional 1,184,905 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of 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 worth $1,265,629,000 after buying an additional 1,151,237 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in Waste Management in the 4th quarter valued at about $205,506,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WM. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Scotiabank lifted their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a research report on Friday, June 27th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Wednesday, June 25th. Citigroup raised their target price on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets raised their target price on shares of Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $251.29.

Waste Management Stock Up 0.1%

Shares of WM stock traded up $0.25 during trading on Friday, hitting $225.90. 1,696,881 shares of the company were exchanged, compared to its average volume of 1,634,195. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The firm has a market capitalization of $90.90 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 2.99 and a beta of 0.64. The business's 50-day simple moving average is $232.28 and its 200 day simple moving average is $225.58. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. As a group, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is 49.77%.

Insiders Place Their Bets

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

Waste Management 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.