Aaron Wealth Advisors LLC Sells 93 Shares of Waste Management, Inc. (NYSE:WM)

by · The Cerbat Gem

Aaron Wealth Advisors LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,374 shares of the business services provider’s stock after selling 93 shares during the period. Aaron Wealth Advisors LLC’s holdings in Waste Management were worth $3,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Waste Management in the 4th quarter worth about $1,009,726,000. GAMMA Investing LLC lifted its holdings in shares of Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock valued at $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Waste Management in the 4th quarter worth approximately $340,611,000. Capital Research Global Investors increased its position in Waste Management by 250.1% during the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock valued at $334,716,000 after buying an additional 1,184,905 shares in the last quarter. Finally, Parnassus Investments LLC raised its stake in Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock valued at $1,265,629,000 after buying an additional 1,151,237 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $228.88 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The firm has a market capitalization of $92.10 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64. The firm has a 50 day moving average of $233.04 and a 200 day moving average of $224.66.

Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same period in the prior year, the business posted $1.75 EPS. Waste Management’s revenue was up 16.7% on a year-over-year basis. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction 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 directly owned 16,542 shares of the company’s stock, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. National Bank Financial upgraded shares of Waste Management to a “hold” rating in a research note on Monday, May 26th. CIBC raised their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Oppenheimer upped their target price on shares of Waste Management from $251.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, UBS Group raised their price target on shares of Waste Management from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Eight equities 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $251.00.

Read Our Latest Analysis on Waste Management

About Waste Management

(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.

See Also

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM – Free Report).