Waste Management, Inc. (NYSE:WM) Holdings Reduced by Strategic Advisors LLC

Strategic Advisors LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,331 shares of the business services provider’s stock after selling 1,861 shares during the period. Waste Management makes up about 1.6% of Strategic Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Strategic Advisors LLC’s holdings in Waste Management were worth $8,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Chicago Capital LLC increased its stake in Waste Management by 5.1% during the 1st quarter. Chicago Capital LLC now owns 16,786 shares of the business services provider’s stock valued at $3,886,000 after buying an additional 820 shares during the period. WD Rutherford LLC bought a new position in shares of Waste Management in the first quarter valued at approximately $1,412,000. Grove Bank & Trust increased its stake in shares of Waste Management by 37.9% during the first quarter. Grove Bank & Trust now owns 1,819 shares of the business services provider’s stock valued at $421,000 after acquiring an additional 500 shares during the period. QRG Capital Management Inc. raised its holdings in Waste Management by 2.8% during the first quarter. QRG Capital Management Inc. now owns 28,102 shares of the business services provider’s stock worth $6,506,000 after purchasing an additional 758 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its position in Waste Management by 19.6% in the first quarter. Sagespring Wealth Partners LLC now owns 6,695 shares of the business services provider’s stock worth $1,550,000 after purchasing an additional 1,099 shares during the period. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $234.59 on Tuesday. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $242.58. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The stock has a market cap of $94.40 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The business has a fifty day simple moving average of $232.52 and a 200-day simple moving average of $223.81.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.41%. Waste Management’s payout ratio is 49.77%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WM shares. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Scotiabank lifted their target price on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 8th. National Bank Financial raised shares of Waste Management to a “hold” rating in a report on Monday, May 26th. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, UBS Group increased their target price 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. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Insider Buying and Selling at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer now owns 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Waste Management Company Profile

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.