Advanced Portfolio Management LLC Makes New Investment in Waste Management, Inc. $WM

Advanced Portfolio Management LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,500 shares of the business services provider’s stock, valued at approximately $1,716,000. Waste Management comprises 4.8% of Advanced Portfolio Management LLC’s holdings, making the stock its 4th largest holding.

Other large investors also recently modified their holdings of the company. Saudi Central Bank bought a new position in Waste Management in the first quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter valued at about $38,000. Loomis Sayles & Co. L P bought a new position in shares of Waste Management in the 2nd quarter worth approximately $40,000. Wealth Watch Advisors INC purchased a new position in shares of Waste Management in the second quarter worth approximately $43,000. Finally, New Age Alpha Advisors LLC bought a new stake in Waste Management during the first quarter valued at approximately $45,000. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Sanford C. Bernstein started coverage on Waste Management in a research report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup lifted their price objective on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Waste Management in a report on Friday, November 14th. They issued an “overweight” rating and a $238.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.14.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $214.03 on Friday. The company has a market cap of $86.23 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.67 and a beta of 0.58. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The stock’s 50 day simple moving average is $212.18 and its two-hundred day simple moving average is $222.91. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.825 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s payout ratio is 51.97%.

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.