Procyon Advisors LLC Has $7.97 Million Position in Waste Management, Inc. (NYSE:WM)

Procyon Advisors LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,442 shares of the business services provider's stock after purchasing an additional 1,086 shares during the period. Procyon Advisors LLC's holdings in Waste Management were worth $7,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transce3nd LLC purchased a new stake in Waste Management during the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management in the 4th quarter valued at about $33,000. Hurley Capital LLC purchased a new position in Waste Management during the 4th quarter valued at about $34,000. Pineridge Advisors LLC acquired a new position in Waste Management during the fourth quarter worth about $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WM. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Citigroup boosted 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. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a report on Tuesday, May 6th. Finally, UBS Group raised their price objective on Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $247.06.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rafael Carrasco sold 674 shares of the 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 completion of the sale, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Waste Management Trading Down 1.0%

WM stock traded down $2.31 during midday trading on Friday, reaching $236.33. The company's stock had a trading volume of 1,181,850 shares, compared to its average volume of 1,630,642. The business's 50-day simple moving average is $231.26 and its 200-day simple moving average is $223.32. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The stock has a market cap of $95.10 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly 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 12.45% and a return on equity of 37.93%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same period last year, the company posted $1.75 EPS. Waste Management's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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