Diversify Wealth Management LLC Buys 15,339 Shares of Waste Management, Inc. $WM

Key Points

• Diversify Wealth Management LLC more than doubled its stake in Waste Management during the first quarter, buying 15,339 additional shares and bringing its total holding to 30,460 shares worth about $7.0 million.
• Wall Street sentiment remains positive, with several analysts maintaining bullish ratings and a consensus rating of “Moderate Buy”; the average price target is $256.20.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, while revenue rose 3.5% year over year to $6.23 billion, and the company also paid a quarterly dividend of $0.945 per share.

Diversify Wealth Management LLC raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 101.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,460 shares of the business services provider's stock after acquiring an additional 15,339 shares during the quarter. Diversify Wealth Management LLC's holdings in Waste Management were worth $7,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Elevated Capital Advisors LLC purchased a new position in Waste Management in the fourth quarter valued at approximately $25,000. RHL Group LLC purchased a new stake in Waste Management in the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC raised its stake in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Waste Management during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WM. JPMorgan Chase & Co. lifted their price objective on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Royal Bank Of Canada increased their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 30th. Wells Fargo & Company reduced their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Oppenheimer cut their price objective on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Finally, Robert W. Baird lifted their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $256.20.

Waste Management Stock Up 0.1%

WM stock opened at $233.50 on Monday. The stock has a 50-day simple moving average of $220.79 and a two-hundred day simple moving average of $225.97. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The firm has a market capitalization of $93.77 billion, a PE ratio of 33.79, a PEG ratio of 2.84 and a beta of 0.44. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.6%. Waste Management's dividend payout ratio is currently 54.70%.

Waste Management Profile

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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