Integrated Wealth Concepts LLC Acquires 16,673 Shares of Waste Management, Inc. $WM

Integrated Wealth Concepts LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 56.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,398 shares of the business services provider’s stock after buying an additional 16,673 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Waste Management were worth $10,341,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Waste Management by 26,113.1% in the 2nd quarter. California State Teachers Retirement System now owns 121,870,338 shares of the business services provider’s stock valued at $27,162,461,000 after acquiring an additional 121,405,416 shares during the period. Norges Bank purchased a new position in Waste Management in the fourth quarter valued at about $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Waste Management in the second quarter worth about $322,479,000. Corient Private Wealth LLC raised its holdings in Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its position in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after buying an additional 767,615 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.9%

NYSE:WM opened at $214.56 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The company has a market cap of $85.76 billion, a PE ratio of 30.39, a P/E/G ratio of 2.73 and a beta of 0.42. The company’s 50 day moving average is $227.81 and its two-hundred day moving average is $226.67.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. Analysts anticipate that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 11th. Waste Management’s payout ratio is presently 53.54%.

Insider Buying and Selling at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares in the company, valued at $771,629.10. This trade represents a 28.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Barclays increased their target price on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Scotiabank lifted their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Stifel Nicolaus upped their price target on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.