Waste Management, Inc. (NYSE:WM) Shares Acquired by Drive Wealth Management LLC

Key Points

• Drive Wealth Management LLC increased its stake in Waste Management, Inc. by 84.0%, owning 3,622 shares valued at approximately $839,000 as of the latest SEC disclosure.
• In the recent earnings report, Waste Management posted an EPS of $1.67, beating analysts' expectations of $1.59, despite revenue being slightly lower than anticipated at $6.02 billion.
• The company announced a quarterly dividend of $0.825, reflecting a 1.43% yield, with a payout ratio currently at 49.77%.

Drive Wealth Management LLC grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 84.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,622 shares of the business services provider's stock after acquiring an additional 1,654 shares during the quarter. Drive Wealth Management LLC's holdings in Waste Management were worth $839,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Waste Management by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock worth $1,654,173,000 after buying an additional 64,260 shares during the last quarter. Norges Bank purchased a new stake in shares of Waste Management during the 4th quarter valued at about $1,009,726,000. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 5.8% during the 4th quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after buying an additional 224,279 shares during the period. Northern Trust Corp increased its holdings in Waste Management by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,996,773 shares of the business services provider's stock worth $806,509,000 after purchasing an additional 465,789 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Waste Management by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock worth $531,456,000 after purchasing an additional 177,398 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $230.58 on Friday. The company has a market cap of $92.79 billion, a PE ratio of 34.78, a P/E/G ratio of 2.83 and a beta of 0.64. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The stock has a 50-day moving average of $231.81 and a 200-day moving average of $227.11.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. Waste Management's revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.43%. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on WM shares. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a research note on Monday, June 9th. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. BMO Capital Markets boosted their target price on Waste Management from $241.00 to $245.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Finally, Oppenheimer upped their price target on Waste Management from $255.00 to $260.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $252.41.

Waste Management 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.

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