Envestnet Portfolio Solutions Inc. Sells 1,447 Shares of Waste Management, Inc. (NYSE:WM)

Envestnet Portfolio Solutions Inc. lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,446 shares of the business services provider's stock after selling 1,447 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Waste Management were worth $12,836,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WM. West Branch Capital LLC lifted its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the period. Transce3nd LLC purchased a new stake in Waste Management during the fourth quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new position in Waste Management in the fourth quarter worth approximately $33,000. Hurley Capital LLC purchased a new position in shares of Waste Management during the 4th quarter worth $34,000. Finally, Fairway Wealth LLC grew its position in shares of Waste Management by 87.6% during the 4th quarter. Fairway Wealth LLC now owns 197 shares of the business services provider's stock valued at $40,000 after acquiring an additional 92 shares during the period. Institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other Waste Management news, 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 transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer now directly owns 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Waste Management Price Performance

Shares of WM stock traded down $1.28 during trading hours on Friday, hitting $231.94. The stock had a trading volume of 2,583,457 shares, compared to its average volume of 1,618,807. The stock's 50-day moving average price is $233.02 and its two-hundred day moving average price is $224.00. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The stock has a market capitalization of $93.34 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 3.08 and a beta of 0.66. 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 (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. 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 prior year, the firm earned $1.75 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management's payout ratio is currently 49.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WM. Robert W. Baird raised their target price on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. National Bank Financial raised Waste Management to a "hold" rating in a research note on Monday, May 26th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, April 29th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Finally, CIBC lifted their price target on shares of Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $248.00.

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.