Waverly Advisors LLC Buys 8,347 Shares of Waste Management, Inc. $WM

by · The Markets Daily

Waverly Advisors LLC boosted its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,053 shares of the business services provider’s stock after purchasing an additional 8,347 shares during the period. Waverly Advisors LLC’s holdings in Waste Management were worth $29,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boston Common Asset Management LLC raised its position in Waste Management by 12.9% in the second quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider’s stock valued at $12,458,000 after purchasing an additional 6,391 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Waste Management during the fourth quarter worth about $10,206,000. Principal Financial Group Inc. increased its stake in shares of Waste Management by 3.1% in the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider’s stock valued at $105,776,000 after buying an additional 14,003 shares during the period. KBC Group NV raised its holdings in Waste Management by 16.2% in the 1st quarter. KBC Group NV now owns 409,741 shares of the business services provider’s stock valued at $94,155,000 after buying an additional 57,028 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Waste Management by 21.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 57,378 shares of the business services provider’s stock worth $12,607,000 after buying an additional 10,205 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

WM traded down $1.23 during trading on Tuesday, reaching $217.76. The stock had a trading volume of 2,183,376 shares, compared to its average volume of 2,166,260. The stock has a market cap of $87.04 billion, a PE ratio of 30.84, a PEG ratio of 2.76 and a beta of 0.42. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The business has a 50-day moving average of $228.29 and a 200-day moving average of $226.90. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91.

Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business posted $1.92 EPS. Waste Management’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management’s payout ratio is 53.54%.

Analyst Ratings Changes

Several brokerages have commented on WM. UBS Group lifted their target price on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Scotiabank upped their target price 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 lifted their price target on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada upped their price target on Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $258.89.

Get Our Latest Stock Report on Waste Management

Insider Activity

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

About Waste Management

(Free Report)

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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