Wealthfront Advisers LLC Acquires 656 Shares of Waste Management, Inc. (NYSE:WM)

Wealthfront Advisers LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,275 shares of the business services provider’s stock after purchasing an additional 656 shares during the period. Wealthfront Advisers LLC’s holdings in Waste Management were worth $1,691,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WM. BlackRock Inc. boosted its holdings in shares of Waste Management by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock valued at $2,817,372,000 after acquiring an additional 1,025,813 shares during the period. Parnassus Investments CA grew its stake in Waste Management by 1.3% during the 4th quarter. Parnassus Investments CA now owns 5,879,967 shares of the business services provider’s stock valued at $523,258,000 after acquiring an additional 73,432 shares in the last quarter. Geode Capital Management LLC grew its stake in Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after acquiring an additional 326,408 shares in the last quarter. Northern Trust Corp grew its stake in Waste Management by 1.4% during the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock valued at $529,567,000 after acquiring an additional 72,356 shares in the last quarter. Finally, Norges Bank purchased a new position in Waste Management during the 4th quarter valued at about $402,210,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.

In other news, EVP John J. Morris sold 42,795 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the completion of the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at $10,779,698.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $104.55, for a total value of $73,185.00. Following the transaction, the vice president now owns 9,518 shares of the company’s stock, valued at $995,106.90. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Several brokerages recently commented on WM. Argus boosted their price target on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Royal Bank of Canada began coverage on Waste Management in a research note on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 price target for the company. KeyCorp boosted their price target on Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Finally, Oppenheimer boosted their price target on Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Waste Management has a consensus rating of “Buy” and a consensus target price of $111.11.

Waste Management stock traded up $1.09 during trading hours on Wednesday, reaching $114.23. 96,026 shares of the company were exchanged, compared to its average volume of 1,764,509. The stock has a market capitalization of $48.29 billion, a P/E ratio of 27.22, a PEG ratio of 3.11 and a beta of 0.62. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45. Waste Management, Inc. has a 12 month low of $79.96 and a 12 month high of $115.42.

Waste Management (NYSE:WM) last announced its earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 4.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.5125 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a yield of 1.79%. Waste Management’s payout ratio is currently 48.81%.

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About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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