B. Riley Wealth Advisors Inc. Invests $1.17 Million in Waste Management, Inc. $WM

B. Riley Wealth Advisors Inc. bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,133 shares of the business services provider’s stock, valued at approximately $1,174,000.

Several other institutional investors also recently bought and sold shares of WM. Saudi Central Bank acquired a new position in Waste Management in the first quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management in the 1st quarter valued at $38,000. Loomis Sayles & Co. L P purchased a new stake in shares of Waste Management in the second quarter worth about $40,000. Wealth Watch Advisors INC acquired a new stake in Waste Management in the second quarter valued at approximately $43,000. Finally, Disciplina Capital Management LLC increased its stake in Waste Management by 123.2% during the 1st quarter. Disciplina Capital Management LLC now owns 221 shares of the business services provider’s stock worth $51,000 after buying an additional 122 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE:WM opened at $218.41 on Tuesday. The stock has a market capitalization of $87.99 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 2.66 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 firm has a 50 day moving average of $211.27 and a 200-day moving average of $221.59. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last released its quarterly 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on WM shares. CIBC cut their target price 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. Citigroup increased their price objective on shares of Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. DZ Bank assumed coverage on shares of Waste Management in a research report on Tuesday, November 25th. They set a “buy” rating and a $250.00 price target on the stock. Finally, UBS Group lowered their price objective on Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Three 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 company has an average rating of “Moderate Buy” and an average price target of $249.14.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the firm’s 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 sale, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.