Eagle Global Advisors LLC Invests $203,000 in Waste Management, Inc. (NYSE:WM)

Eagle Global Advisors LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 1st quarter, Holdings Channel reports. The firm purchased 875 shares of the business services provider’s stock, valued at approximately $203,000.

Several other hedge funds also recently made changes to their positions in the business. Westend Capital Management LLC boosted its holdings in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after buying an additional 66 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $28,000. West Branch Capital LLC boosted its holdings in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Adalta Capital Management LLC acquired a new stake in shares of Waste Management in the 4th quarter valued at approximately $40,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $45,000. 80.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction 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 owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated 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 owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Up 0.9%

Shares of NYSE WM opened at $237.13 on Tuesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The stock has a market capitalization of $95.52 billion, a P/E ratio of 35.18, a PEG ratio of 2.88 and a beta of 0.64. The stock’s fifty day moving average is $230.78 and its 200 day moving average is $229.29.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the business earned $1.82 earnings per share. Waste Management’s revenue was up 19.0% on a year-over-year basis. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WM shares. Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a report on Monday, June 9th. Scotiabank raised their price target on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Melius initiated coverage on Waste Management in a report on Monday, June 9th. They set a “buy” rating for the company. Finally, Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $254.35.

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.