Waste Management, Inc. (NYSE:WM) Shares Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 145.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,283 shares of the business services provider’s stock after purchasing an additional 1,947 shares during the period. Magnolia Capital Advisors LLC’s holdings in Waste Management were worth $700,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HFR Wealth Management LLC lifted its stake in shares of Waste Management by 1.1% in the 4th quarter. HFR Wealth Management LLC now owns 57,581 shares of the business services provider’s stock worth $10,313,000 after acquiring an additional 624 shares during the period. NEOS Investment Management LLC lifted its position in Waste Management by 38.9% in the fourth quarter. NEOS Investment Management LLC now owns 5,181 shares of the business services provider’s stock valued at $928,000 after purchasing an additional 1,452 shares during the period. Rafferty Asset Management LLC boosted its holdings in Waste Management by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 30,746 shares of the business services provider’s stock valued at $5,507,000 after purchasing an additional 1,431 shares in the last quarter. Cornerstone Advisory LLC increased its position in Waste Management by 5.8% during the 4th quarter. Cornerstone Advisory LLC now owns 2,336 shares of the business services provider’s stock worth $418,000 after purchasing an additional 128 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Waste Management by 3.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 84,273 shares of the business services provider’s stock worth $15,093,000 after buying an additional 2,505 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WM. BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Price Performance

NYSE:WM opened at $205.51 on Monday. The company’s 50-day moving average is $207.07 and its two-hundred day moving average is $208.62. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market cap of $82.43 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management 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.