Red Door Wealth Management LLC Grows Stock Position in Waste Management, Inc. (NYSE:WM)

Red Door Wealth Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,212 shares of the business services provider's stock after acquiring an additional 2,595 shares during the quarter. Waste Management makes up 1.2% of Red Door Wealth Management LLC's investment portfolio, making the stock its 23rd largest position. Red Door Wealth Management LLC's holdings in Waste Management were worth $8,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WM. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares during the last quarter. West Branch Capital LLC lifted its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the period. Transce3nd LLC bought a new stake in shares of Waste Management in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $33,000. Finally, Hurley Capital LLC purchased a new stake in Waste Management in the fourth quarter worth $34,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on WM shares. Wall Street Zen raised shares of Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Melius initiated coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a report on Monday, June 9th. Finally, UBS Group lifted their price target on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Eight 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $251.00.

Waste Management Trading Up 0.6%

NYSE:WM opened at $228.14 on Monday. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The stock has a market cap of $91.81 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 3.02 and a beta of 0.66. The company's 50 day moving average price is $233.03 and its 200-day moving average price is $224.52. 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 (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter in the previous year, the business earned $1.75 earnings per share. The company's revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio is currently 49.77%.

Insiders Place Their Bets

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred on 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 directly owns 83,934 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's 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 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 position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.

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