Simplicity Wealth LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Simplicity Wealth LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,804 shares of the business services provider’s stock, valued at approximately $1,344,000.

Several other hedge funds and other institutional investors have also modified their holdings of WM. Transce3nd LLC acquired a new position in Waste Management during the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management during the 4th quarter worth approximately $33,000. Hurley Capital LLC acquired a new position in Waste Management during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC acquired a new position in Waste Management during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in Waste Management during the 4th quarter worth approximately $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent research reports. HSBC raised Waste Management from a “hold” rating to a “buy” rating and boosted their price target for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. Hsbc Global Res raised Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup upped their target price on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada upped their target price on Waste Management from $227.00 to $229.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. Finally, Seaport Res Ptn raised Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.00.

Insider Transactions at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction dated 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 now owns 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president now owns 16,542 shares of the company’s stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.0%

WM stock opened at $234.01 on Wednesday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The firm has a fifty day moving average price of $231.24 and a two-hundred day moving average price of $223.62. The firm has a market cap of $94.17 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Waste Management Company 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.