Harbour Investments Inc. Purchases 644 Shares of Waste Management, Inc. (NYSE:WM)

Harbour Investments Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,831 shares of the business services provider’s stock after buying an additional 644 shares during the quarter. Harbour Investments Inc.’s holdings in Waste Management were worth $2,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Brentview Investment Management LLC acquired a new stake in shares of Waste Management during the 1st quarter worth approximately $3,701,000. MGO One Seven LLC boosted its stake in Waste Management by 2.0% in the first quarter. MGO One Seven LLC now owns 12,882 shares of the business services provider’s stock worth $2,982,000 after purchasing an additional 247 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in Waste Management by 0.7% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,941 shares of the business services provider’s stock worth $2,070,000 after buying an additional 64 shares in the last quarter. Davis R M Inc. boosted its holdings in Waste Management by 67.8% in the first quarter. Davis R M Inc. now owns 3,286 shares of the business services provider’s stock valued at $761,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Waste Management by 4.2% during the first quarter. Natixis Advisors LLC now owns 591,108 shares of the business services provider’s stock worth $136,847,000 after buying an additional 24,006 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 0.1%

Shares of Waste Management stock opened at $228.89 on Friday. The stock has a market cap of $92.11 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.82 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The business’s 50 day moving average is $231.49 and its 200-day moving average is $228.12. The company has a quick ratio of 0.79, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 48.96%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the company’s 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 transaction, the senior vice president directly owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company’s stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on WM shares. CIBC raised their target price on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. BMO Capital Markets boosted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Waste Management in a report on Tuesday. Oppenheimer boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 price objective on the stock in a research note on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $254.35.

About Waste Management

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.