Buck Wealth Strategies LLC Has $12.29 Million Stock Position in Waste Management, Inc. $WM

Key Points

• Buck Wealth Strategies LLC increased its Waste Management stake by 14.2% in the fourth quarter, now holding 55,936 shares worth about $12.29 million.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, topping estimates, while revenue rose 3.5% year over year to $6.23 billion.
• The company also raised its quarterly dividend to $0.945 per share, bringing the annualized payout to $3.78 and the yield to about 1.8%.

Buck Wealth Strategies LLC lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 14.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,936 shares of the business services provider's stock after purchasing an additional 6,952 shares during the quarter. Waste Management accounts for about 1.6% of Buck Wealth Strategies LLC's investment portfolio, making the stock its 22nd largest holding. Buck Wealth Strategies LLC's holdings in Waste Management were worth $12,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC boosted its position in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Waste Management in the 3rd quarter valued at $30,000. Kelleher Financial Advisors acquired a new position in shares of Waste Management in the 4th quarter valued at $31,000. Finally, Holos Integrated Wealth LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 4,818 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total value of $1,165,136.94. Following the sale, the senior vice president directly owned 78,918 shares in the company, valued at $19,084,739.94. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael J. Watson sold 17,251 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the sale, the vice president owned 44,146 shares in the company, valued at $10,674,944.26. This trade represents a 28.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 91,959 shares of company stock valued at $21,698,005. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

WM has been the subject of a number of research reports. UBS Group upgraded Waste Management from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $225.00 to $260.00 in a research report on Friday, January 9th. Wolfe Research initiated coverage on Waste Management in a research report on Friday, March 13th. They set a "peer perform" rating for the company. Stifel Nicolaus raised their price objective on Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Royal Bank Of Canada raised their price objective on Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Finally, Scotiabank restated a "sector perform" rating and set a $250.00 price objective (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and an average price target of $255.67.

Waste Management Price Performance

Shares of NYSE:WM opened at $215.18 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $86.41 billion, a PE ratio of 31.14, a PEG ratio of 2.32 and a beta of 0.49. The business's 50 day moving average is $231.84 and its 200-day moving average is $222.91. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm earned $1.67 EPS. Waste Management's revenue for the quarter was up 3.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. This is a positive change from Waste Management's previous quarterly dividend of $0.83. The ex-dividend date was Friday, March 13th. Waste Management's dividend payout ratio (DPR) is currently 54.70%.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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