Greystone Financial Group LLC Has $9.65 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Greystone Financial Group LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,660 shares of the business services provider's stock after purchasing an additional 5,054 shares during the period. Waste Management accounts for 1.8% of Greystone Financial Group LLC's investment portfolio, making the stock its 24th biggest holding. Greystone Financial Group LLC's holdings in Waste Management were worth $9,645,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WM. Transce3nd LLC purchased a new stake in shares of Waste Management in the fourth quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at approximately $33,000. Hurley Capital LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $34,000. Pineridge Advisors LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new position in shares of Waste Management during the 4th quarter valued at $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WM shares. Melius Research initiated coverage on Waste Management in a research report on Monday. They set a "buy" rating and a $263.00 price objective for the company. Scotiabank lifted their price target on Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a report on Tuesday, April 8th. Robert W. Baird increased their price objective on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Citigroup raised their price objective on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada boosted their target price on shares of Waste Management from $227.00 to $229.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and a consensus price target of $248.00.

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction 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 sale, the chief financial officer now directly 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 SEC, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Shares of NYSE:WM traded down $2.40 on Monday, hitting $233.94. 1,305,759 shares of the company were exchanged, compared to its average volume of 1,622,937. The company's 50 day moving average price is $231.31 and its two-hundred day moving average price is $223.48. The firm has a market capitalization of $94.14 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, June 6th. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

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.