Wealthfront Advisers LLC Buys 1,698 Shares of Waste Management, Inc. $WM

Wealthfront Advisers LLC boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,093 shares of the business services provider’s stock after acquiring an additional 1,698 shares during the quarter. Wealthfront Advisers LLC’s holdings in Waste Management were worth $13,064,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its holdings in Waste Management by 21.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,321 shares of the business services provider’s stock worth $2,819,000 after acquiring an additional 2,159 shares during the last quarter. MQS Management LLC bought a new stake in Waste Management during the 2nd quarter worth approximately $205,000. Leavell Investment Management Inc. lifted its position in shares of Waste Management by 0.9% in the 2nd quarter. Leavell Investment Management Inc. now owns 33,383 shares of the business services provider’s stock worth $7,639,000 after purchasing an additional 291 shares during the period. Burke & Herbert Bank & Trust Co. lifted its position in shares of Waste Management by 1.7% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 16,180 shares of the business services provider’s stock worth $3,702,000 after purchasing an additional 270 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs lifted its position in shares of Waste Management by 0.9% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 20,282 shares of the business services provider’s stock worth $4,641,000 after purchasing an additional 173 shares during the period. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

NYSE WM opened at $214.56 on Monday. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. 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 firm has a market cap of $86.43 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.64 and a beta of 0.64. The company has a fifty day moving average price of $219.89 and a 200-day moving average price of $227.18.

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

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is currently 48.96%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of recent analyst reports. Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. BMO Capital Markets boosted their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 30th. Scotiabank boosted their target price on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Finally, National Bankshares dropped their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

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.