Graypoint LLC Boosts Stake in Waste Management, Inc. (NYSE:WM)

Graypoint LLC lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,468 shares of the business services provider's stock after purchasing an additional 1,686 shares during the quarter. Graypoint LLC's holdings in Waste Management were worth $1,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Westend Capital Management LLC increased its stake in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Waste Management during the fourth quarter valued at about $28,000. West Branch Capital LLC grew its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares in the last quarter. Hurley Capital LLC purchased a new position in Waste Management in the fourth quarter worth about $34,000. Finally, Adalta Capital Management LLC bought a new stake in Waste Management in the fourth quarter worth about $40,000. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WM shares. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. HSBC raised shares of Waste Management from a "hold" rating to a "buy" rating and increased their price target for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Finally, CIBC increased their target price on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Eight investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $251.29.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Performance

NYSE:WM opened at $225.73 on Friday. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The company has a 50-day moving average of $231.66 and a 200-day moving average of $226.21. The firm has a market cap of $90.84 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Waste Management's revenue was up 16.7% compared to the same quarter last year. 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 was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management's dividend payout ratio is 49.77%.

About Waste Management

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.

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