Vest Financial LLC Boosts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Vest Financial LLC grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 73.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,608 shares of the business services provider's stock after purchasing an additional 8,307 shares during the period. Vest Financial LLC's holdings in Waste Management were worth $4,539,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WM. Transce3nd LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $33,000. Hurley Capital LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $36,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Down 1.0%

Shares of NYSE:WM traded down $2.31 on Friday, reaching $236.33. The company had a trading volume of 1,181,850 shares, compared to its average volume of 1,624,211. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $95.10 billion, a PE ratio of 34.75, a PEG ratio of 2.71 and a beta of 0.66. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The firm's 50 day simple moving average is $231.31 and its 200-day simple moving average is $223.47.

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, 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 return on equity of 37.93% and a net margin of 12.45%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president now owns 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WM shares. CIBC raised their price target on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 5th. Citigroup raised their price objective on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Royal Bank of Canada raised their price objective on Waste Management from $227.00 to $229.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $247.06.

About Waste Management

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.