Advisory Services Network LLC Buys 6,926 Shares of Waste Management, Inc. $WM

Advisory Services Network LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 28.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,374 shares of the business services provider’s stock after buying an additional 6,926 shares during the period. Advisory Services Network LLC’s holdings in Waste Management were worth $7,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. bought a new position in shares of Waste Management during the 1st quarter worth about $325,000. Vestmark Advisory Solutions Inc. boosted its position in shares of Waste Management by 82.7% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,938 shares of the business services provider’s stock valued at $1,606,000 after acquiring an additional 3,141 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Waste Management by 21.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,749 shares of the business services provider’s stock valued at $868,000 after acquiring an additional 658 shares during the period. Finally, American Century Companies Inc. lifted its stake in Waste Management by 17.3% during the first quarter. American Century Companies Inc. now owns 85,184 shares of the business services provider’s stock worth $19,721,000 after purchasing an additional 12,585 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 1.6%

Shares of NYSE WM opened at $215.49 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The company has a market cap of $86.81 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The firm’s 50-day simple moving average is $211.26 and its 200 day simple moving average is $221.73.

Waste Management (NYSE:WM) last announced 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 company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share. On average, research analysts expect 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. Shareholders of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WM shares. Baird R W upgraded Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Scotiabank lowered their price target on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 29th. CIBC cut their price objective on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Robert W. Baird raised shares of 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 report on Tuesday, November 4th. Finally, Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.14.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Company 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.