DAVENPORT & Co LLC Has $8.34 Million Holdings in Waste Management, Inc. (NYSE:WM)

DAVENPORT & Co LLC raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,004 shares of the business services provider's stock after acquiring an additional 2,001 shares during the period. DAVENPORT & Co LLC's holdings in Waste Management were worth $8,335,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Westend Capital Management LLC raised its position in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares during the last quarter. Transce3nd LLC acquired a new stake in 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 first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $34,000. Finally, Fairway Wealth LLC increased its holdings in shares of Waste Management by 87.6% in the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock valued at $40,000 after purchasing an additional 92 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Up 1.4%

WM traded up $3.04 during trading on Thursday, reaching $226.43. The company had a trading volume of 1,525,978 shares, compared to its average volume of 1,621,978. The business's fifty day moving average price is $232.93 and its 200 day moving average price is $224.65. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58. The company has a market cap of $91.12 billion, a P/E ratio of 34.15, a PEG ratio of 3.03 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data 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. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same period in the previous year, the firm posted $1.75 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the firm'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 completion of the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business'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 transaction, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank increased their price objective on Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a research report on Friday, June 27th. UBS Group upped their target price on shares of Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Citigroup lifted their price target on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Melius assumed coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Eight research 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 company's stock. According to MarketBeat.com, the stock presently has an average 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.