Wealthfront Advisers LLC Acquires 3,322 Shares of Waste Management, Inc. (NYSE:WM)

Wealthfront Advisers LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,395 shares of the business services provider's stock after buying an additional 3,322 shares during the period. Wealthfront Advisers LLC's holdings in Waste Management were worth $12,824,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WM. Westend Capital Management LLC boosted its holdings in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares during the period. West Branch Capital LLC boosted its holdings in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the period. Transce3nd LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $28,000. Hurley Capital LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $34,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $40,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM traded up $1.43 during trading hours on Friday, reaching $227.13. 1,996,375 shares of the stock traded hands, compared to its average volume of 1,634,919. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The company's 50-day moving average price is $231.54 and its two-hundred day moving average price is $226.38. The company has a market cap of $91.40 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results 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 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 company earned $1.75 EPS. Waste Management's revenue for the quarter was up 16.7% on a year-over-year basis. On average, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is 49.77%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research note on Monday, June 9th. Scotiabank increased their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 27th. BMO Capital Markets increased their price target on shares of Waste Management from $241.00 to $245.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 25th. Finally, CIBC increased their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $251.29.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction on 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 directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% 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.

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.