Parallel Advisors LLC Has $2.71 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Parallel Advisors LLC increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,687 shares of the business services provider's stock after acquiring an additional 1,512 shares during the quarter. Parallel Advisors LLC's holdings in Waste Management were worth $2,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WM. Tompkins Financial Corp increased its stake in shares of Waste Management by 10.0% during the 1st quarter. Tompkins Financial Corp now owns 67,685 shares of the business services provider's stock worth $15,670,000 after purchasing an additional 6,166 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock worth $442,038,000 after buying an additional 1,902,081 shares during the period. Bath Savings Trust Co acquired a new stake in shares of Waste Management during the 1st quarter worth approximately $233,000. Webster Bank N. A. lifted its holdings in shares of Waste Management by 3.7% in the 1st quarter. Webster Bank N. A. now owns 18,212 shares of the business services provider's stock worth $4,216,000 after purchasing an additional 654 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Waste Management by 11.0% during the 1st quarter. Quent Capital LLC now owns 1,133 shares of the business services provider's stock worth $262,000 after acquiring an additional 112 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 83,934 shares of the company's stock, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John A. Carroll sold 1,251 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $225.92, for a total value of $282,625.92. Following the completion of the sale, the chief accounting officer now owns 8,420 shares in the company, valued at $1,902,246.40. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,966 shares of company stock worth $18,486,402 over the last ninety days. 0.18% of the stock is owned by company insiders.

Waste Management Stock Down 0.1%

WM traded down $0.24 during trading hours on Wednesday, hitting $239.95. 380,476 shares of the company's stock were exchanged, compared to its average volume of 1,636,781. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The firm has a 50 day moving average of $230.90 and a 200 day moving average of $223.07. 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 firm has a market cap of $96.56 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.71 and a beta of 0.67.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.75 earnings per share. Analysts predict that Waste Management, Inc. will post 7.7 EPS 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. Stockholders of record on Friday, June 6th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.38%. Waste Management's dividend payout ratio is presently 49.77%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. UBS Group boosted their price target on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. CIBC boosted their price target on shares of Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Finally, Seaport Res Ptn upgraded Waste Management to a "hold" rating in a report on Tuesday, May 6th. Nine investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.06.

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.