Resurgent Financial Advisors LLC Makes New Investment in Waste Management, Inc. (NYSE:WM)

Resurgent Financial Advisors LLC purchased a new position in Waste Management, Inc. (NYSE:WM) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 889 shares of the business services provider’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Westend Capital Management LLC lifted its stake in shares of Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. West Branch Capital LLC increased its holdings in 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 purchasing an additional 49 shares in the last quarter. Transce3nd LLC acquired a new stake in Waste Management in the 4th quarter valued at $28,000. Hurley Capital LLC acquired a new stake in shares of Waste Management during the fourth quarter valued at about $34,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Waste Management during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their target price on shares of Waste Management from $241.00 to $245.00 and gave the stock a “market perform” rating in a report on Wednesday, June 25th. Robert W. Baird lifted their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. National Bank Financial upgraded shares of Waste Management to a “hold” rating in a research report on Monday, May 26th. Citigroup lifted their price objective 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. Finally, Oppenheimer lifted their target price on shares of Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $251.29.

Waste Management Stock Performance

NYSE WM opened at $227.13 on Friday. The firm has a 50-day moving average of $231.54 and a 200-day moving average of $226.38. 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 stock has a market cap of $91.40 billion, a PE ratio of 34.26, a P/E/G ratio of 2.80 and a beta of 0.64. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58.

Waste Management (NYSE:WM) last issued 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. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same quarter in the previous year, the company earned $1.75 EPS. The business’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Insider Activity at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the company’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 directly owned 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.