AdvisorNet Financial Inc Cuts Stock Holdings in Waste Management, Inc. (NYSE:WM)

AdvisorNet Financial Inc reduced its position in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,925 shares of the business services provider’s stock after selling 166 shares during the period. AdvisorNet Financial Inc’s holdings in Waste Management were worth $447,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. increased its holdings in Waste Management by 769.6% in the first quarter. Peoples Financial Services CORP. now owns 400 shares of the business services provider’s stock valued at $63,000 after buying an additional 354 shares in the last quarter. Resources Management Corp CT ADV grew its holdings in shares of Waste Management by 9.2% in the 1st quarter. Resources Management Corp CT ADV now owns 7,599 shares of the business services provider’s stock worth $1,204,000 after acquiring an additional 638 shares during the period. FDx Advisors Inc. grew its holdings in shares of Waste Management by 1.8% in the 1st quarter. FDx Advisors Inc. now owns 6,049 shares of the business services provider’s stock worth $959,000 after acquiring an additional 107 shares during the period. Clarus Wealth Advisors acquired a new stake in shares of Waste Management in the 1st quarter worth approximately $200,000. Finally, California State Teachers Retirement System grew its holdings in shares of Waste Management by 2.7% in the 4th quarter. California State Teachers Retirement System now owns 760,589 shares of the business services provider’s stock worth $126,942,000 after acquiring an additional 19,853 shares during the period. 74.74% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $169.34 on Monday. The business’s fifty day moving average price is $166.15 and its two-hundred day moving average price is $159.52. The stock has a market cap of $69.99 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a one year low of $138.58 and a one year high of $175.98.

Waste Management (NYSE:WMGet Rating) last announced its earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.08. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Waste Management had a return on equity of 30.69% and a net margin of 11.27%. Waste Management’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. On average, analysts forecast that Waste Management, Inc. will post 5.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 8th. Waste Management’s dividend payout ratio (DPR) is 50.78%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Morgan Stanley upped their price target on Waste Management from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 20th. Oppenheimer set a $160.00 price target on Waste Management in a report on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $164.86.

Insider Transactions at Waste Management

In other news, EVP John J. Morris sold 22,795 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $169.82, for a total transaction of $3,871,046.90. Following the sale, the executive vice president now owns 95,461 shares in the company, valued at $16,211,187.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP John J. Morris sold 22,795 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $169.82, for a total transaction of $3,871,046.90. Following the sale, the executive vice president now owns 95,461 shares in the company, valued at $16,211,187.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Devina A. Rankin sold 22,082 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total value of $3,864,350.00. Following the sale, the chief financial officer now owns 50,516 shares in the company, valued at approximately $8,840,300. The disclosure for this sale can be found here. Insiders have sold 54,067 shares of company stock worth $9,292,271 over the last quarter. 0.18% of the stock is currently owned by insiders.

Waste Management Company Profile

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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

See Also

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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