Global Assets Advisory LLC Has $1.51 Million Holdings in Waste Management, Inc. (NYSE:WM)

Global Assets Advisory LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 199.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,703 shares of the business services provider’s stock after purchasing an additional 4,466 shares during the quarter. Global Assets Advisory LLC’s holdings in Waste Management were worth $1,508,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Waste Management during the fourth quarter worth about $1,009,726,000. GAMMA Investing LLC boosted its stake in Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock valued at $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Waste Management in the fourth quarter worth approximately $340,611,000. Capital Research Global Investors lifted its holdings in shares of Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock valued at $334,716,000 after purchasing an additional 1,184,905 shares in the last quarter. Finally, Parnassus Investments LLC boosted its position in shares of Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock valued at $1,265,629,000 after buying an additional 1,151,237 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and increased their price target for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Robert W. Baird raised their price target on shares of Waste Management from $235.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. UBS Group increased their price objective on shares of Waste Management from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Melius Research upgraded Waste Management to a “strong-buy” rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Finally, CIBC upped their target price on Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Eight 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were 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. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Waste Management Trading Down 0.1%

Shares of WM opened at $234.40 on Wednesday. The firm has a market cap of $94.33 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.66. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58. 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 has a 50-day moving average of $233.18 and a 200 day moving average of $224.20.

Waste Management (NYSE:WM) last posted 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 analyst estimates of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.75 earnings per share. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, June 6th. Waste Management’s payout ratio is currently 49.77%.

About Waste Management

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.