Matrix Trust Co Invests $1.87 Million in Waste Management, Inc. (NYSE:WM)

Matrix Trust Co acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,055 shares of the business services provider's stock, valued at approximately $1,865,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Waste Management by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after acquiring an additional 44 shares in the last quarter. Ascent Group LLC raised its position in Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC boosted its stake in Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after purchasing an additional 44 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Waste Management by 0.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock worth $1,366,000 after purchasing an additional 45 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Waste Management by 8.2% in the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock valued at $123,000 after buying an additional 46 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.2%

NYSE:WM traded down $0.52 on Thursday, reaching $238.37. The company's stock had a trading volume of 1,040,382 shares, compared to its average volume of 1,633,287. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The business's 50-day moving average price is $231.13 and its two-hundred day moving average price is $223.18. The firm has a market cap of $95.92 billion, a PE ratio of 35.05, a PEG 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 issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Waste Management's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.38%. Waste Management's dividend payout ratio is currently 49.77%.

Analysts Set New Price Targets

Several analysts have recently commented on WM shares. Robert W. Baird increased their price target on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. National Bank Financial raised Waste Management to a "hold" rating in a research note on Monday, May 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Tuesday, April 29th. UBS Group lifted their price objective on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised 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, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $247.06.

Insider Buying and Selling

In related news, 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 transaction of $159,609.94. Following the completion of the transaction, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Morris sold 19,153 shares of Waste Management stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the completion of the sale, the executive vice president now owns 85,257 shares in the company, valued at $19,158,100.47. The trade was a 18.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,966 shares of company stock valued at $18,486,402. Company insiders own 0.18% of the company's stock.

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.