Bartlett & CO. Wealth Management LLC lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,311 shares of the business services provider's stock after selling 2,874 shares during the period. Bartlett & CO. Wealth Management LLC owned approximately 0.07% of Waste Management worth $63,737,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. TFC Financial Management Inc. lifted its holdings in shares of Waste Management by 12.9% in the 1st quarter. TFC Financial Management Inc. now owns 1,443 shares of the business services provider's stock worth $334,000 after acquiring an additional 165 shares during the last quarter. Falcon Wealth Planning lifted its stake in Waste Management by 4.3% during the first quarter. Falcon Wealth Planning now owns 2,881 shares of the business services provider's stock worth $667,000 after purchasing an additional 118 shares in the last quarter. Perpetual Ltd boosted its position in shares of Waste Management by 3.7% during the first quarter. Perpetual Ltd now owns 68,338 shares of the business services provider's stock worth $15,821,000 after buying an additional 2,428 shares during the period. Nadler Financial Group Inc. grew its stake in shares of Waste Management by 3.9% in the first quarter. Nadler Financial Group Inc. now owns 1,618 shares of the business services provider's stock valued at $375,000 after buying an additional 61 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in shares of Waste Management by 11.4% in the 1st quarter. PDS Planning Inc now owns 2,201 shares of the business services provider's stock valued at $510,000 after buying an additional 225 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on WM shares. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Citigroup upped their price objective on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and lifted their target price for the company from $210.00 to $265.00 in a report on Friday, April 25th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $250.71.
Check Out Our Latest Stock Analysis on WM
Insider Transactions at Waste Management
In related news, CFO Devina A. Rankin sold 57,888 shares of the 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 completion of the sale, the chief financial officer now directly owns 83,934 shares of the company's stock, valued at $19,922,574.24. This trade represents 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 through this link. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were 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 in the company, valued at $3,917,311.02. This represents 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 WM stock opened at $226.86 on Friday. The stock's 50-day moving average is $233.08 and its two-hundred day moving average is $224.30. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $242.58. The firm has a market cap of $91.29 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 3.02 and a beta of 0.66.
Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter last year, the business posted $1.75 EPS. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. Waste Management's payout ratio is 49.77%.
About Waste Management
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Waste Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Waste Management wasn't on the list.
While Waste Management currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
