Independent Advisor Alliance Sells 4,803 Shares of Waste Management, Inc. (NYSE:WM)

Independent Advisor Alliance lowered its stake in Waste Management, Inc. (NYSE:WM) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,153 shares of the business services provider’s stock after selling 4,803 shares during the period. Independent Advisor Alliance’s holdings in Waste Management were worth $13,463,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider’s stock valued at $781,000 after buying an additional 44 shares during the period. Ascent Group LLC lifted its stake in Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock valued at $1,520,000 after buying an additional 44 shares during the period. Insight Wealth Strategies LLC increased its holdings in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after acquiring an additional 44 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 45 shares in the last quarter. Finally, Formidable Asset Management LLC increased its holdings in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer owned 83,934 shares of the company’s stock, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Up 0.8%

Shares of NYSE:WM opened at $235.11 on Monday. The company has a market capitalization of $94.71 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The business has a fifty day moving average price of $230.87 and a two-hundred day moving average price of $229.10. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (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 the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. Analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Melius assumed coverage on Waste Management in a report on Monday, June 9th. They set a “buy” rating for the company. Scotiabank boosted their price objective on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. National Bank Financial upgraded Waste Management to a “hold” rating in a report on Monday, May 26th. Finally, HSBC upgraded Waste Management from a “hold” rating to a “buy” rating and boosted their price objective for the company from $210.00 to $265.00 in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.