Brentview Investment Management LLC Makes New Investment in Waste Management, Inc. (NYSE:WM)

Key Points

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Brentview Investment Management LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,986 shares of the business services provider's stock, valued at approximately $3,701,000. Waste Management makes up about 2.0% of Brentview Investment Management LLC's investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $28,000. West Branch Capital LLC raised its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $34,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Insiders Place Their Bets

In other news, SVP Rafael Carrasco sold 674 shares of Waste Management 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 owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the 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 completion of the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, Raymond James Financial lifted their price target on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Price Performance

NYSE:WM traded down $0.27 during mid-day trading on Friday, reaching $228.89. 1,389,422 shares of the stock were exchanged, compared to its average volume of 1,601,932. The business has a fifty day moving average price of $231.49 and a 200 day moving average price of $228.12. The firm has a market capitalization of $92.11 billion, a PE ratio of 33.96, a PEG ratio of 2.82 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. Waste Management's revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.4%. Waste Management's payout ratio is currently 48.96%.

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.