Harbour Capital Advisors LLC Has $2.95 Million Holdings in Waste Management, Inc. (NYSE:WM)

Harbour Capital Advisors LLC reduced its holdings in Waste Management, Inc. (NYSE:WM) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,456 shares of the business services provider’s stock after selling 100 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Waste Management were worth $2,950,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Transce3nd LLC bought a new position in shares of Waste Management during the fourth quarter worth about $28,000. West Branch Capital LLC boosted its position in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Waste Management during the 4th quarter worth approximately $33,000. Hurley Capital LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $34,000. Finally, Fairway Wealth LLC lifted its position in shares of Waste Management by 87.6% in the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider’s stock worth $40,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $234.75 on Tuesday. The stock’s 50-day moving average is $233.12 and its 200-day moving average is $224.13. The stock has a market cap of $94.47 billion, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.08. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. Waste Management’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 57,888 shares of the firm’s 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 sale, the chief financial officer now directly owns 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the 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 completion of the transaction, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on WM shares. Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 price target on the stock in a research note on Monday, June 9th. Citigroup lifted their target price on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. UBS Group increased their price target on Waste Management from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, Seaport Res Ptn raised Waste Management to a “hold” rating in a report on Tuesday, May 6th. Eight investment 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, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus 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.