MBA Advisors LLC Buys 127 Shares of Waste Management, Inc. (NYSE:WM)

by · The Cerbat Gem

MBA Advisors LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 7.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,760 shares of the business services provider’s stock after acquiring an additional 127 shares during the period. MBA Advisors LLC’s holdings in Waste Management were worth $408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Westend Capital Management LLC lifted its holdings in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Transce3nd LLC purchased a new position in Waste Management in the 4th quarter worth $28,000. West Branch Capital LLC lifted its stake in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Hurley Capital LLC purchased a new stake in Waste Management during the fourth quarter valued at about $34,000. Finally, Fairway Wealth LLC grew its stake in shares of Waste Management by 87.6% during the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider’s stock valued at $40,000 after buying an additional 92 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM opened at $226.43 on Friday. The company has a 50-day simple moving average of $232.91 and a two-hundred day simple moving average of $224.75. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The firm has a market capitalization of $91.12 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 2.96 and a beta of 0.64. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58.

Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. Waste Management’s payout ratio is 49.77%.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. Citigroup boosted their target price on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Scotiabank boosted their price objective on Waste Management from $260.00 to $265.00 and gave the company a “sector outperform” rating in a research report on Friday, June 27th. 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. HSBC upgraded shares of Waste Management from a “hold” rating to a “buy” rating and upped their price target for the company from $210.00 to $265.00 in a report on Friday, April 25th. Finally, CIBC raised their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average target price of $251.00.

Read Our Latest Report on Waste Management

Waste Management Profile

(Free Report)

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.

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