Wealthspire Advisors LLC reduced its position in Waste Management, Inc. (NYSE:WM – Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,546 shares of the business services provider’s stock after selling 542 shares during the period. Wealthspire Advisors LLC’s holdings in Waste Management were worth $1,182,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Hexagon Capital Partners LLC boosted its stake in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC purchased a new stake in Waste Management in the fourth quarter worth approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at approximately $35,000. Gilfoyle & Co LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $30,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $36,000. 80.40% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Waste Management
In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.
Waste Management Price Performance
NYSE WM opened at $213.75 on Friday. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The stock has a 50-day moving average of $208.36 and a 200 day moving average of $202.22. The company has a market capitalization of $85.73 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.48 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89.
Waste Management (NYSE:WM – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.
Waste Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. Waste Management’s dividend payout ratio is currently 49.10%.
Analyst Ratings Changes
A number of brokerages recently commented on WM. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Morgan Stanley raised their price objective on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. BMO Capital Markets raised their price objective on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, TD Cowen raised their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.33.
Read More: Wealthspire Advisors LLC Sells 542 Shares of Waste Management, Inc. (NYSE:WM)