Concurrent Investment Advisors LLC Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Concurrent Investment Advisors LLC raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 31.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,544 shares of the business services provider's stock after purchasing an additional 6,298 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Waste Management were worth $6,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WM. Vanguard Group Inc. boosted its stake in shares of Waste Management by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after buying an additional 538,567 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Waste Management by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock valued at $1,654,173,000 after buying an additional 64,260 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after buying an additional 1,151,237 shares in the last quarter. Norges Bank purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $1,009,726,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Waste Management by 5.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after buying an additional 224,279 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 in the company, valued at $19,922,574.24. This represents 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 company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Waste Management stock opened at $226.43 on Friday. The firm has a market capitalization of $91.12 billion, a P/E ratio of 34.15, a PEG ratio of 3.00 and a beta of 0.64. The stock has a fifty day moving average price of $232.87 and a 200 day moving average price of $225.01. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65.

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, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The business's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Citigroup lifted their price objective on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. CIBC lifted their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, Melius assumed coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating for the company. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and an average target price of $251.00.

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.

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