Fiduciary Wealth Partners LLC Buys Shares of 1,935 Waste Management, Inc. (NYSE:WM)

Key Points

• Fiduciary Wealth Partners LLC acquired 1,935 shares of Waste Management, Inc., valued at approximately $448,000, making it the 18th largest holding in their portfolio.
• Waste Management reported a quarterly EPS of $1.92, surpassing analyst expectations, with revenue of $6.43 billion for the quarter, reflecting a 19% increase year-over-year.
• The company declared a quarterly dividend of $0.825, resulting in an annualized dividend yield of 1.4%, with a payout ratio of 48.96%.

Fiduciary Wealth Partners LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,935 shares of the business services provider's stock, valued at approximately $448,000. Waste Management makes up 0.4% of Fiduciary Wealth Partners LLC's investment portfolio, making the stock its 18th largest position.

Other hedge funds have also recently made changes to their positions in the company. IFG Advisory LLC purchased a new position in Waste Management in the first quarter worth $301,000. TIAA Trust National Association boosted its position in Waste Management by 5.8% during the first quarter. TIAA Trust National Association now owns 20,191 shares of the business services provider's stock valued at $4,675,000 after buying an additional 1,111 shares during the period. Headland Capital LLC bought a new position in shares of Waste Management during the first quarter valued at about $209,000. Baker Avenue Asset Management LP raised its stake in shares of Waste Management by 1.2% during the first quarter. Baker Avenue Asset Management LP now owns 19,393 shares of the business services provider's stock valued at $4,490,000 after acquiring an additional 232 shares during the last quarter. Finally, EagleClaw Capital Managment LLC raised its stake in shares of Waste Management by 0.9% during the first quarter. EagleClaw Capital Managment LLC now owns 19,821 shares of the business services provider's stock valued at $4,589,000 after acquiring an additional 175 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on WM. CIBC upped their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Raymond James Financial increased their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. William Blair reissued an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Finally, Robert W. Baird lifted their target price on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $254.35.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president directly owned 16,542 shares in the company, valued at $3,917,311.02. This 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 this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Price Performance

Shares of WM stock traded up $1.59 on Monday, hitting $230.47. 1,408,632 shares of the stock traded hands, compared to its average volume of 1,671,408. The firm has a market cap of $92.84 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.81 and a beta of 0.64. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The firm has a 50 day simple moving average of $231.49 and a two-hundred day simple moving average of $228.38. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. As a group, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed 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 1.4%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio is 48.96%.

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.