Integrated Wealth Concepts LLC Increases Holdings in Waste Management, Inc. $WM

Key Points

• Integrated Wealth Concepts LLC increased its Waste Management stake by 56.1% in the second quarter, owning 46,398 shares valued at approximately $10.3 million. Institutional investors collectively own 80.4% of WM.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates of $1.98, while revenue rose 4% year over year to $6.68 billion. The company declared a quarterly dividend of $0.945 per share, equating to a 1.8% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89, compared with a recent share price of $214.56; targets from UBS and Citigroup were raised, though some firms downgraded or trimmed their ratings.

Integrated Wealth Concepts LLC lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 56.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,398 shares of the business services provider's stock after acquiring an additional 16,673 shares during the period. Integrated Wealth Concepts LLC's holdings in Waste Management were worth $10,341,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WM. Financial Network Wealth Advisors LLC increased its position in Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after acquiring an additional 47 shares during the last quarter. RHL Group LLC bought a new stake in shares of Waste Management in the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management during the 4th quarter worth about $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the 3rd quarter valued at about $30,000. Finally, Main Street Group LTD bought a new position in Waste Management during the 1st quarter valued at about $31,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM opened at $214.56 on Friday. The firm has a market cap of $85.76 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The firm's 50 day simple moving average is $227.81 and its 200-day simple moving average is $226.67. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. Waste Management's quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, September 11th. Waste Management's dividend payout ratio is currently 53.54%.

Insider Activity

In other news, CAO John Carroll sold 1,365 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $219.90, for a total transaction of $300,163.50. Following the transaction, the chief accounting officer owned 3,509 shares of the company's stock, valued at approximately $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on WM shares. UBS Group raised their price objective on shares of Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Oppenheimer reduced their price target on Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings lowered Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Canadian Imperial Bank of Commerce downgraded Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Waste Management Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.

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