Waste Management, Inc. (NYSE:WM) Shares Acquired by Clare Market Investments LLC

Clare Market Investments LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 29.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,225 shares of the business services provider's stock after acquiring an additional 2,980 shares during the quarter. Waste Management comprises about 0.8% of Clare Market Investments LLC's portfolio, making the stock its 21st largest position. Clare Market Investments LLC's holdings in Waste Management were worth $3,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Secure Asset Management LLC grew its holdings in Waste Management by 19.2% during the first quarter. Secure Asset Management LLC now owns 4,560 shares of the business services provider's stock worth $1,056,000 after acquiring an additional 733 shares during the period. Portside Wealth Group LLC lifted its stake in Waste Management by 39.9% in the 1st quarter. Portside Wealth Group LLC now owns 3,283 shares of the business services provider's stock valued at $760,000 after buying an additional 937 shares in the last quarter. Freedom Financial Partners LLC acquired a new stake in shares of Waste Management in the first quarter worth approximately $220,000. Apella Capital LLC grew its holdings in shares of Waste Management by 1.9% during the first quarter. Apella Capital LLC now owns 2,881 shares of the business services provider's stock worth $647,000 after buying an additional 55 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Waste Management by 17.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 23,240 shares of the business services provider's stock valued at $5,380,000 after acquiring an additional 3,536 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock traded down $2.31 during trading hours on Friday, hitting $236.33. 1,181,850 shares of the company were exchanged, compared to its average volume of 1,631,489. The business has a 50-day moving average of $231.26 and a 200-day moving average of $223.32. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $242.58. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $95.10 billion, a price-to-earnings ratio of 34.75, a P/E/G ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released its 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. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter last year, the business earned $1.75 EPS. The business's revenue was up 16.7% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WM. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research report on Tuesday, April 29th. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a research note on Tuesday, May 6th. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and increased their price target for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Finally, Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and an average price target of $247.06.

Insider Buying and Selling

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