Simplicity Wealth LLC Invests $1.34 Million in Waste Management, Inc. (NYSE:WM)

Simplicity Wealth LLC acquired 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 fund acquired 5,804 shares of the business services provider's stock, valued at approximately $1,344,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in Waste Management by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after acquiring an additional 44 shares during the last quarter. Ascent Group LLC lifted its holdings in Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after buying an additional 44 shares during the period. Insight Wealth Strategies LLC boosted its position in shares of Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Waste Management by 0.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock valued at $1,366,000 after acquiring an additional 45 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Waste Management by 8.2% during the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock valued at $123,000 after purchasing an additional 46 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE WM traded up $1.32 on Thursday, hitting $235.61. The company's stock had a trading volume of 379,713 shares, compared to its average volume of 1,616,873. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The company has a market capitalization of $94.81 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The stock has a 50 day moving average of $231.42 and a 200-day moving average of $223.70. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The company's revenue was up 16.7% on a year-over-year basis. As a group, research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.40%. Waste Management's payout ratio is 49.77%.

Wall Street Analyst Weigh In

WM has been the subject of several analyst reports. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. National Bank Financial upgraded Waste Management to a "hold" rating in a report on Monday, May 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Tuesday, April 29th. Finally, Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $248.00.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction 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 now owns 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated 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 now directly owns 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

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.