MainStreet Investment Advisors LLC Has $12.17 Million Position in Waste Management, Inc. (NYSE:WM)

MainStreet Investment Advisors LLC lowered its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,570 shares of the business services provider's stock after selling 2,043 shares during the period. Waste Management comprises 1.8% of MainStreet Investment Advisors LLC's portfolio, making the stock its 14th largest holding. MainStreet Investment Advisors LLC's holdings in Waste Management were worth $12,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Westend Capital Management LLC boosted its stake in shares of Waste Management by 126.9% during the 1st 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 last quarter. Transce3nd LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $28,000. West Branch Capital LLC raised its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares during the last quarter. Hurley Capital LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $34,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.1%

Shares of WM stock traded down $0.21 during mid-day trading on Thursday, reaching $225.54. 1,596,353 shares of the company were exchanged, compared to its average volume of 1,632,051. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The business's 50 day simple moving average is $232.60 and its 200 day simple moving average 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, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued 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 firm had revenue of $6.02 billion during 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 firm's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.46%. Waste Management's dividend payout ratio (DPR) is 49.77%.

Analyst Upgrades and Downgrades

Several analysts have commented on WM shares. Scotiabank lifted their price target on Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a report on Friday, June 27th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. UBS Group increased their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. HSBC raised shares of Waste Management from a "hold" rating to a "buy" rating and boosted their price objective for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research report on Monday, June 9th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $251.29.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.