Waste Management, Inc. (NYSE:WM) Holdings Lifted by Correct Capital Wealth Management

Correct Capital Wealth Management boosted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 12.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,591 shares of the business services provider's stock after purchasing an additional 1,201 shares during the period. Waste Management comprises 0.4% of Correct Capital Wealth Management's portfolio, making the stock its 24th largest position. Correct Capital Wealth Management's holdings in Waste Management were worth $2,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westend Capital Management LLC boosted its holdings in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares during the last quarter. Transce3nd LLC purchased a new position in Waste Management in the fourth quarter valued at about $28,000. West Branch Capital LLC boosted its holdings in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Hurley Capital LLC bought a new position in Waste Management during the 4th quarter worth approximately $34,000. Finally, Adalta Capital Management LLC bought a new position in Waste Management during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was 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 $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

Shares of WM traded down $0.21 during midday trading on Thursday, reaching $225.54. The stock had a trading volume of 1,596,353 shares, compared to its average volume of 1,632,051. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The firm's 50 day moving average price is $232.60 and its 200-day moving average price is $225.29. The company has a market capitalization of $90.76 billion, a P/E ratio of 34.02, a P/E/G ratio of 2.99 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 EPS. On average, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio (DPR) is presently 49.77%.

Analyst Ratings Changes

A number of research firms have commented on WM. Scotiabank increased their target price on Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a report on Friday, June 27th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group increased their target price on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. BMO Capital Markets boosted their price objective on Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $251.29.

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.