New Age Alpha Advisors LLC Buys New Position in Waste Management, Inc. (NYSE:WM)

New Age Alpha Advisors LLC bought a new stake in Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 194 shares of the business services provider’s stock, valued at approximately $45,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC increased its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Transce3nd LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $28,000. West Branch Capital LLC increased its position in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after purchasing an additional 49 shares in the last quarter. Adalta Capital Management LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $40,000. Finally, CBIZ Investment Advisory Services LLC acquired a new stake in Waste Management during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company’s stock, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. CIBC upped their price target on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Seaport Res Ptn raised Waste Management to a “hold” rating in a research report on Tuesday, May 6th. BMO Capital Markets upped their target price on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Finally, National Bank Financial raised Waste Management to a “hold” rating in a research report on Monday, May 26th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.35.

Waste Management Stock Performance

WM stock opened at $237.13 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The firm has a market cap of $95.52 billion, a P/E ratio of 35.18, a P/E/G ratio of 2.88 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The stock’s 50 day simple moving average is $230.78 and its 200 day simple moving average is $229.29.

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

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.