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Griffin Asset Management Inc. Purchases 4,540 Shares of Waste Management, Inc. (NYSE:WM)

Waste Management logo with Business Services background

Griffin Asset Management Inc. lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 56.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,649 shares of the business services provider's stock after buying an additional 4,540 shares during the period. Griffin Asset Management Inc.'s holdings in Waste Management were worth $2,928,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Azzad Asset Management Inc. ADV grew its position in Waste Management by 0.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 9,571 shares of the business services provider's stock valued at $2,216,000 after acquiring an additional 67 shares in the last quarter. New England Research & Management Inc. increased its stake in Waste Management by 5.1% during the 1st quarter. New England Research & Management Inc. now owns 6,863 shares of the business services provider's stock worth $1,589,000 after buying an additional 335 shares during the period. Elevation Point Wealth Partners LLC boosted its position in Waste Management by 50.7% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,322 shares of the business services provider's stock valued at $538,000 after buying an additional 781 shares during the last quarter. West Branch Capital LLC increased its position in shares of Waste Management by 69.0% during 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 during the last quarter. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Waste Management by 2.5% in the first quarter. Salem Investment Counselors Inc. now owns 30,543 shares of the business services provider's stock worth $7,071,000 after acquiring an additional 751 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

NYSE:WM traded down $0.55 during mid-day trading on Tuesday, reaching $234.11. 871,603 shares of the stock were exchanged, compared to its average volume of 1,617,232. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The business has a fifty day moving average price of $232.52 and a 200 day moving average price of $223.81. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The firm has a market capitalization of $94.21 billion, a PE ratio of 34.43, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 EPS. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management's dividend payout ratio (DPR) is 49.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. UBS Group lifted their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a research note on Monday, June 9th. William Blair reissued an "outperform" rating on shares of Waste Management in a report on Tuesday, April 29th. Finally, Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $248.00.

Get Our Latest Stock Analysis on Waste Management

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

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.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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