Cerity Partners LLC Has $113.29 Million Stock Position in Waste Management, Inc. $WM

Cerity Partners LLC lifted its holdings in Waste Management, Inc. (NYSE:WM) by 7.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 495,125 shares of the business services provider’s stock after acquiring an additional 32,454 shares during the period. Cerity Partners LLC owned approximately 0.12% of Waste Management worth $113,294,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. McAdam LLC grew its position in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after purchasing an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC boosted its stake in shares of Waste Management by 2.0% in the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after buying an additional 44 shares during the period. Harbour Trust & Investment Management Co increased its stake in Waste Management by 1.1% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after acquiring an additional 45 shares during the period. KWB Wealth raised its holdings in Waste Management by 1.3% in the 2nd quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock valued at $835,000 after acquiring an additional 47 shares in the last quarter. Finally, D.B. Root & Company LLC lifted its position in shares of Waste Management by 3.0% during the 2nd quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock valued at $367,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on WM shares. CIBC decreased their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Barclays decreased their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. UBS Group cut their price target on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Cowen restated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Finally, Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.14.

Waste Management Price Performance

Shares of NYSE:WM opened at $213.61 on Friday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market cap of $86.06 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.64 and a beta of 0.58. The firm has a 50 day simple moving average of $212.08 and a 200 day simple moving average of $222.70.

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

Waste Management Dividend Announcement

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

Insider Transactions at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.