Waste Management, Inc. (NYSE:WM) Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,581 shares of the business services provider’s stock after selling 675 shares during the period. Accurate Wealth Management LLC’s holdings in Waste Management were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Waste Management during the fourth quarter valued at approximately $33,000. Hurley Capital LLC purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC acquired a new stake in shares of Waste Management in the fourth quarter worth approximately $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Waste Management during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Down 1.0%

Shares of NYSE WM opened at $233.94 on Tuesday. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The stock has a market cap of $94.14 billion, a P/E ratio of 34.40, a PEG ratio of 2.71 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The business’s fifty day simple moving average is $231.29 and its 200-day simple moving average is $223.55.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.14 billion. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Waste Management’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm earned $1.75 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, June 6th. Waste Management’s payout ratio is currently 49.77%.

Insider Activity

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of Waste Management 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 sale, the senior vice president now owns 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. This trade represents 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 Analysts Forecast Growth

WM has been the topic of a number of research reports. National Bank Financial upgraded Waste Management to a “hold” rating in a report on Monday, May 26th. UBS Group raised their price target on shares of Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Citigroup boosted their target price on Waste Management from $260.00 to $271.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Melius initiated coverage on Waste Management in a report on Monday. They set a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $248.00.

Waste Management Profile

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.