Sequoia Financial Advisors LLC Boosts Holdings in Waste Management, Inc. $WM

Key Points

• Sequoia Financial Advisors increased its Waste Management stake by 7.8% in the second quarter, adding 16,917 shares to own 233,493 shares worth approximately $52.0 million. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates by $0.04, while revenue rose 4.0% year over year to $6.68 billion. The company also declared a quarterly dividend of $0.945 per share, equivalent to a 1.7% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $258.89 versus the reported share price of $216.30. Separately, Chief Accounting Officer John Carroll sold 1,365 shares, reducing his position by 28.01%.

Sequoia Financial Advisors LLC raised its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 7.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,493 shares of the business services provider's stock after purchasing an additional 16,917 shares during the period. Sequoia Financial Advisors LLC owned 0.06% of Waste Management worth $52,041,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WM. Financial Network Wealth Advisors LLC boosted its stake in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after purchasing an additional 47 shares during the last quarter. RHL Group LLC acquired a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC purchased a new stake in Waste Management in the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD purchased a new stake in Waste Management in the 1st quarter worth approximately $31,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares in the company, valued at $771,629.10. This represents a 28.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Waste Management Stock Performance

WM stock opened at $216.30 on Thursday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The stock's fifty day moving average is $228.13 and its two-hundred day moving average is $226.78. The stock has a market capitalization of $86.46 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.75 and a beta of 0.42.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management's payout ratio is currently 53.54%.

Analysts Set New Price Targets

WM has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Citigroup raised their price target on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Oppenheimer dropped their price objective on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce cut shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Scotiabank upped their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 16th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Waste Management Company Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.

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