Tidal Investments LLC Has $16.57 Million Holdings in Waste Management, Inc. $WM

Key Points

• Tidal Investments increased its Waste Management stake by 9.5% in the second quarter, bringing its holdings to 74,348 shares valued at $16.57 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates by $0.04, while revenue rose 4% year over year to $6.68 billion. The company declared a quarterly dividend of $0.945, equivalent to an annualized yield of 1.8%.
• WM shares opened at $214.56, below their 50- and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89, while an insider sold shares worth approximately $300,000.

Tidal Investments LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,348 shares of the business services provider's stock after buying an additional 6,456 shares during the quarter. Tidal Investments LLC's holdings in Waste Management were worth $16,571,000 at the end of the most recent quarter.

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

Insider Activity at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares of the company's stock, valued at approximately $771,629.10. This trade represents a 28.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

Waste Management Trading Down 0.9%

Waste Management stock opened at $214.56 on Friday. The business has a 50 day moving average price of $227.81 and a two-hundred day moving average price of $226.67. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The stock has a market cap of $85.76 billion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $6.68 billion for the quarter, compared to analysts' expectations of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.Waste Management's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 earnings per share. As a group, equities analysts forecast that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.945 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management's dividend payout ratio is currently 53.54%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WM shares. Royal Bank Of Canada raised their target price on shares of Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce cut Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Finally, Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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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