TFC Financial Management Inc. Acquires 165 Shares of Waste Management, Inc. (NYSE:WM)

TFC Financial Management Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 12.9% during the first quarter, Holdings Channel reports. The firm owned 1,443 shares of the business services provider’s stock after purchasing an additional 165 shares during the period. TFC Financial Management Inc.’s holdings in Waste Management were worth $334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Mission Wealth Management LP lifted its holdings in Waste Management by 811.1% in the 4th quarter. Mission Wealth Management LP now owns 9,102 shares of the business services provider’s stock worth $1,837,000 after purchasing an additional 8,103 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider’s stock worth $137,108,000 after purchasing an additional 24,023 shares during the period. Mizuho Securities USA LLC grew its holdings in Waste Management by 46.2% during the fourth quarter. Mizuho Securities USA LLC now owns 34,617 shares of the business services provider’s stock valued at $6,985,000 after purchasing an additional 10,936 shares during the last quarter. Finally, GPM Growth Investors Inc. grew its holdings in Waste Management by 144.2% during the fourth quarter. GPM Growth Investors Inc. now owns 11,045 shares of the business services provider’s stock valued at $2,229,000 after purchasing an additional 6,522 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $226.86 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. The firm has a 50-day moving average price of $233.08 and a 200 day moving average price of $224.30. The firm has a market capitalization of $91.29 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 3.02 and a beta of 0.66. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58.

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

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. Waste Management’s dividend payout ratio is presently 49.77%.

Insider Transactions at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the business’s 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 transaction, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at $19,922,574.24. This 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 owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WM shares. BMO Capital Markets upped their price objective on shares of Waste Management from $241.00 to $245.00 and gave the stock a “market perform” rating in a report on Wednesday. Citigroup boosted their target price on shares of Waste Management from $260.00 to $271.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $229.00 price target on shares of Waste Management in a research report on Thursday. Hsbc Global Res raised Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, HSBC raised Waste Management from a “hold” rating to a “buy” rating and raised their target price for the company from $210.00 to $265.00 in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

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.