Waste Management, Inc. (NYSE:WM) Shares Purchased by Capital Investment Advisors LLC

Capital Investment Advisors LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 13.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,530 shares of the business services provider’s stock after acquiring an additional 1,211 shares during the period. Capital Investment Advisors LLC’s holdings in Waste Management were worth $2,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WM. Banque Pictet & Cie SA boosted its stake in Waste Management by 0.6% during the 4th quarter. Banque Pictet & Cie SA now owns 1,869,190 shares of the business services provider’s stock valued at $377,184,000 after acquiring an additional 11,940 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Waste Management by 3.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,890 shares of the business services provider’s stock valued at $55,929,000 after purchasing an additional 8,914 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its holdings in Waste Management by 22.1% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 16,597 shares of the business services provider’s stock valued at $3,349,000 after buying an additional 3,000 shares during the last quarter. Finally, Weatherly Asset Management L. P. raised its position in shares of Waste Management by 1.7% during the 4th quarter. Weatherly Asset Management L. P. now owns 110,979 shares of the business services provider’s stock valued at $22,394,000 after acquiring an additional 1,803 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president now owns 16,542 shares of the company’s stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the 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 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on WM shares. CIBC boosted their target price on shares of Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Tuesday, April 29th. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Robert W. Baird upped their target price on Waste Management from $235.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Scotiabank boosted their price target on shares of Waste Management from $255.00 to $260.00 and gave the company a “sector outperform” rating in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.06.

Waste Management Price Performance

NYSE WM opened at $236.33 on Monday. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58. The firm has a market capitalization of $95.10 billion, a PE ratio of 34.75, a P/E/G ratio of 2.71 and a beta of 0.66. The company’s 50 day simple moving average is $231.31 and its 200 day simple moving average is $223.48. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $1.75 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, June 6th. Waste Management’s payout ratio is 49.77%.

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.