Accurate Wealth Management LLC Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Accurate Wealth Management LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,581 shares of the business services provider’s stock after selling 675 shares during the period. Accurate Wealth Management LLC’s holdings in Waste Management were worth $3,115,000 at the end of the most recent reporting period.

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

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now owns 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president now 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. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $233.94 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The company has a market cap of $94.14 billion, a PE ratio of 34.40, a P/E/G ratio of 2.71 and a beta of 0.66. The company’s fifty day simple moving average is $231.29 and its 200-day simple moving average is $223.55. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58.

Waste Management (NYSE:WM) last announced 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. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the prior year, the firm earned $1.75 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, June 6th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.77%.

Analysts Set New Price Targets

WM has been the topic of a number of analyst reports. HSBC upgraded Waste Management from a “hold” rating to a “buy” rating and increased their target price for the company from $210.00 to $265.00 in a report on Friday, April 25th. Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Seaport Res Ptn raised Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Finally, Scotiabank increased their target price on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.00.

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.