Godsey & Gibb Inc. Buys 96,431 Shares of Waste Management, Inc. $WM

Godsey & Gibb Inc. bought a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 96,431 shares of the business services provider’s stock, valued at approximately $19,664,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Physician Wealth Advisors Inc. lifted its position in shares of Waste Management by 10.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after buying an additional 45 shares during the last quarter. Cornerstone Advisory LLC grew its position in Waste Management by 1.6% in the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 46 shares during the last quarter. Warren Street Wealth Advisors LLC grew its position in Waste Management by 4.6% in the first quarter. Warren Street Wealth Advisors LLC now owns 1,058 shares of the business services provider’s stock valued at $243,000 after acquiring an additional 47 shares during the last quarter. Total Clarity Wealth Management Inc. raised its stake in Waste Management by 3.2% during the first quarter. Total Clarity Wealth Management Inc. now owns 1,557 shares of the business services provider’s stock worth $358,000 after acquiring an additional 48 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in Waste Management by 7.2% during the first quarter. Sound Income Strategies LLC now owns 713 shares of the business services provider’s stock worth $165,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WM shares. Barclays increased their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Morgan Stanley lowered their price objective on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group increased their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Citigroup raised their target price on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $256.06.

Waste Management Price Performance

Shares of WM opened at $215.50 on Thursday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The business has a 50-day simple moving average of $216.23 and a two-hundred day simple moving average of $222.26. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The stock has a market cap of $86.14 billion, a PE ratio of 27.37, a PEG ratio of 2.69 and a beta of 0.42.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. Analysts anticipate that Waste Management, Inc. will post 8.12 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.9450 per share. The ex-dividend date was Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.8%. Waste Management’s dividend payout ratio (DPR) is currently 53.54%.

Insider Buying and Selling

In other Waste Management news, CAO John Carroll sold 1,365 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. The trade was a 28.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE: WM), is an environmental services company that provides waste collection, transfer, disposal, recycling and resource recovery services. Its customers include residential households, commercial businesses, industrial organizations and municipalities.

The company operates a network of collection operations, transfer stations, landfills, recycling facilities and waste-to-energy assets across the United States and Canada. Its services include curbside collection, dumpster and roll-off services, recycling, landfill disposal, organics management and specialized waste solutions.

Founded in 1968, WM has expanded from a traditional waste collection business into a broader provider of environmental and sustainability services.