Dynamic Advisor Solutions LLC acquired a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,184 shares of the business services provider's stock, valued at approximately $4,441,000.
Several other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Waste Management by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after buying an additional 44 shares during the last quarter. Ascent Group LLC lifted its position in Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after acquiring an additional 44 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after acquiring an additional 44 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Waste Management by 0.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock worth $1,366,000 after purchasing an additional 45 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Waste Management by 8.2% during the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock worth $123,000 after purchasing an additional 46 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.
Waste Management Price Performance
Waste Management stock traded down $1.17 during midday trading on Thursday, reaching $233.14. The company's stock had a trading volume of 1,076,373 shares, compared to its average volume of 1,614,948. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. The firm has a market capitalization of $93.82 billion, a PE ratio of 35.16, a P/E/G ratio of 3.10 and a beta of 0.66. The stock's 50 day simple moving average is $232.89 and its 200 day simple moving average is $223.95.
Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, topping 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 company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.42%. Waste Management's dividend payout ratio is presently 49.77%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on WM shares. Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They set a "buy" rating on the stock. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Citigroup raised their price objective 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. Finally, Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $248.00.
View Our Latest Research Report on Waste Management
Insiders Place Their Bets
In other news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president now directly owns 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer now owns 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.
About Waste Management
(
Free Report)
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.
See Also
Before you consider Waste Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Management wasn't on the list.
While Waste Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
