Oakmont Investment Advisors Inc. Buys Shares of 5,004 Waste Management, Inc. $WM

Key Points

• Oakmont Investment Advisors purchased 5,004 Waste Management shares worth approximately $1.115 million, while institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion but came in slightly below expectations.
• The company declared a quarterly dividend of $0.945, equivalent to an annualized $3.78 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89.

Oakmont Investment Advisors Inc. purchased a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,004 shares of the business services provider's stock, valued at approximately $1,115,000.

A number of other institutional investors also recently bought and sold shares of the stock. Financial Network Wealth Advisors LLC raised its stake in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after buying an additional 47 shares during the period. RHL Group LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC bought a new stake in Waste Management during the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD purchased a new position in Waste Management during the first quarter valued at approximately $31,000. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Down 1.3%

Shares of WM stock opened at $218.90 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $87.50 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.80 and a beta of 0.42. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The stock's 50-day moving average price is $228.48 and its 200-day moving average price is $227.17.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management's dividend payout ratio (DPR) is presently 53.54%.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce cut shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Oppenheimer dropped their target price on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Royal Bank Of Canada raised their price target on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Weiss Ratings downgraded Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. Finally, UBS Group increased their target price on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source