InTrack Investment Management Inc Purchases 1,961 Shares of Waste Management, Inc. (NYSE:WM)

InTrack Investment Management Inc lifted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 51.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,807 shares of the business services provider's stock after acquiring an additional 1,961 shares during the period. Waste Management makes up about 1.2% of InTrack Investment Management Inc's portfolio, making the stock its 28th largest holding. InTrack Investment Management Inc's holdings in Waste Management were worth $1,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WM. Norges Bank bought a new stake in shares of Waste Management during the 4th quarter worth approximately $1,009,726,000. GAMMA Investing LLC lifted its holdings in shares of Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock worth $442,038,000 after acquiring an additional 1,902,081 shares during the period. Raymond James Financial Inc. acquired a new position in Waste Management during the 4th quarter worth approximately $340,611,000. Capital Research Global Investors lifted its stake in Waste Management by 250.1% in the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after purchasing an additional 1,184,905 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after purchasing an additional 1,151,237 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.4%

Shares of NYSE WM traded down $1.05 during trading on Friday, hitting $236.10. 1,414,057 shares of the company traded hands, compared to its average volume of 1,622,604. The business's fifty day moving average is $232.15 and its 200 day moving average is $223.80. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. The firm has a market capitalization of $95.01 billion, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.40%. Waste Management's dividend payout ratio is currently 49.77%.

Analyst Ratings Changes

Several brokerages recently commented on WM. Scotiabank increased their price objective on shares of Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a research note on Tuesday, April 8th. UBS Group increased their price objective on shares of Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Royal Bank of Canada raised their price target on shares of Waste Management from $227.00 to $229.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $248.00.

Insider Activity

In other news, 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 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 legal filing with the SEC, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president now directly owns 16,542 shares of the company's stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.