Mission Wealth Management LP Acquires 97 Shares of Waste Management, Inc. (NYSE:WM)

Mission Wealth Management LP increased its holdings in Waste Management, Inc. (NYSE:WM) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,199 shares of the business services provider’s stock after acquiring an additional 97 shares during the quarter. Mission Wealth Management LP’s holdings in Waste Management were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. West Branch Capital LLC lifted its holdings in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Transce3nd LLC purchased a new position in Waste Management during the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Waste Management in the fourth quarter worth $33,000. Hurley Capital LLC bought a new position in shares of Waste Management during the fourth quarter valued at $34,000. Finally, Sierra Ocean LLC purchased a new position in shares of Waste Management in the 4th quarter worth about $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer now directly owns 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was 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 Trading Down 0.8%

NYSE:WM opened at $234.59 on Tuesday. Waste Management, Inc. has a one year low of $196.59 and a one year high of $242.58. The business has a fifty day moving average price of $232.52 and a 200-day moving average price of $223.81. The firm has a market capitalization of $94.40 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. 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 (NYSE:WM) 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 37.93% and a net margin of 12.45%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter last year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on WM shares. Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 price target on the stock in a report on Monday, June 9th. JPMorgan Chase & Co. upgraded shares of Waste Management from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. National Bank Financial upgraded Waste Management to a “hold” rating in a research note on Monday, May 26th. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, April 29th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.00.

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.