Axxcess Wealth Management LLC boosted its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 514.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 80,055 shares of the business services provider’s stock after buying an additional 67,016 shares during the period. Axxcess Wealth Management LLC’s holdings in Waste Management were worth $17,588,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Elevated Capital Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC grew its position in shares of Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new position in shares of Waste Management during the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC bought a new position in shares of Waste Management in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Insider Buying and Selling at Waste Management
In other news, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the sale, the chief operating officer owned 99,929 shares in the company, valued at $24,320,720.02. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tara J. Hemmer sold 4,818 shares of Waste Management stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the transaction, the senior vice president directly owned 78,918 shares of the company’s stock, valued at $19,084,739.94. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,296 shares of company stock valued at $8,569,283 over the last 90 days. 0.18% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Waste Management Stock Up 0.2%
WM opened at $218.09 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The company’s 50-day moving average is $227.00 and its 200 day moving average is $223.51. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm has a market capitalization of $87.58 billion, a P/E ratio of 31.56, a PEG ratio of 2.28 and a beta of 0.49.
Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Research analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.
Waste Management Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio is 54.70%.
About Waste Management
Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.
Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.
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