Corient Private Wealth LLC Acquires 191,447 Shares of Waste Management, Inc. $WM

Corient Private Wealth LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 76.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,435 shares of the business services provider’s stock after acquiring an additional 191,447 shares during the quarter. Corient Private Wealth LLC owned 0.11% of Waste Management worth $101,009,000 at the end of the most recent reporting period.

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

Waste Management Stock Up 1.3%

Shares of Waste Management stock opened at $218.41 on Tuesday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company’s 50 day moving average price is $211.27 and its 200-day moving average price is $221.59. The stock has a market capitalization of $87.99 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 2.66 and a beta of 0.58.

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

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders 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 dividend yield of 1.5%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WM shares. The Goldman Sachs Group began coverage on Waste Management in a research note on Monday, November 24th. They set a “buy” rating and a $256.00 price target for the company. Citigroup boosted their target price on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Sanford C. Bernstein initiated coverage on shares of Waste Management in a report on Wednesday, November 12th. They issued an “outperform” rating and a $255.00 price objective for the company. Finally, DZ Bank began coverage on shares of Waste Management in a report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.14.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.