Prescott Group Capital Management L.L.C. Makes New $527,000 Investment in Waste Management, Inc. (NYSE:WM)

Key Points

• Prescott Group Capital Management L.L.C. made a new investment of approximately $527,000 in Waste Management, Inc. by purchasing 2,275 shares.
• Waste Management recently declared a quarterly dividend of $0.825 per share, representing an annualized yield of 1.43%.
• The company's stock has an average target price of $252.41 with a consensus rating of "Moderate Buy" from analysts.

Prescott Group Capital Management L.L.C. bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,275 shares of the business services provider's stock, valued at approximately $527,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after acquiring an additional 232 shares during the period. Calamos Advisors LLC boosted its holdings in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock valued at $65,633,000 after acquiring an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after acquiring an additional 24,023 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after acquiring an additional 958 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Citigroup upped their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, UBS Group increased their target price 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. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $252.41.

Waste Management Stock Up 1.1%

Shares of WM opened at $230.58 on Friday. The stock has a market cap of $92.79 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.83 and a beta of 0.64. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58. The company has a 50-day moving average price of $231.81 and a two-hundred day moving average price of $227.11.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is 49.77%.

Insider Activity at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on 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 owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on 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 directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management 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.

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