Dynamic Advisor Solutions LLC Buys New Shares in Waste Management, Inc. (NYSE:WM)

Dynamic Advisor Solutions LLC bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 19,184 shares of the business services provider's stock, valued at approximately $4,441,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Mission Wealth Management LP raised its position in shares of Waste Management by 811.1% in the 4th quarter. Mission Wealth Management LP now owns 9,102 shares of the business services provider's stock worth $1,837,000 after acquiring an additional 8,103 shares in the last quarter. bLong Financial LLC bought a new position in shares of Waste Management in the 4th quarter worth approximately $378,000. Strategic Financial Concepts LLC bought a new position in shares of Waste Management in the 4th quarter worth approximately $3,251,000. Finally, Empower Advisory Group LLC raised its position in shares of Waste Management by 2.2% in the 4th quarter. Empower Advisory Group LLC now owns 446,426 shares of the business services provider's stock worth $90,084,000 after acquiring an additional 9,797 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

WM has been the subject of several research reports. CIBC increased their target price on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. UBS Group increased their target price on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citigroup upped their price target on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $248.00.

Waste Management Stock Up 0.1%

WM stock traded up $0.20 during midday trading on Wednesday, hitting $234.50. The company's stock had a trading volume of 343,106 shares, compared to its average volume of 1,611,674. The company has a market cap of $94.37 billion, a PE ratio of 35.36, a P/E/G ratio of 3.10 and a beta of 0.66. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month 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. The firm's 50-day moving average is $232.71 and its 200-day moving average is $223.88.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company's revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 EPS. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend yield of 1.41%. Waste Management's payout ratio is 49.77%.

Insider Activity

In related news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management 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 transaction, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

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.