Waste Management, Inc. $WM Stock Position Lifted by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its stake in Waste Management, Inc. (NYSE:WMFree Report) by 28.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,310 shares of the business services provider’s stock after buying an additional 2,313 shares during the quarter. Arkadios Wealth Advisors’ holdings in Waste Management were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in shares of Waste Management during the second quarter worth $40,000. Steigerwald Gordon & Koch Inc. acquired a new position in Waste Management in the 3rd quarter worth about $41,000. Wealth Watch Advisors INC purchased a new stake in shares of Waste Management during the 2nd quarter worth about $43,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Waste Management by 47.0% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 244 shares of the business services provider’s stock valued at $54,000 after buying an additional 78 shares during the last quarter. Finally, Gladwyn Financial Advisors Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at approximately $58,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Key Waste Management News

Here are the key news stories impacting Waste Management this week:

Waste Management Stock Performance

WM opened at $229.05 on Friday. 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 stock’s 50 day moving average price is $217.45 and its two-hundred day moving average price is $219.20. The firm has a market capitalization of $92.28 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.54 and a beta of 0.59. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58.

Waste Management (NYSE:WMGet Free Report) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS 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 return on equity of 33.00% and a net margin of 10.35%.The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 earnings per share. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.4%. Waste Management’s dividend payout ratio is 51.97%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. CIBC dropped their price target on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. DZ Bank started coverage on shares of Waste Management in a research note on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank Of Canada decreased their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $250.81.

Read Our Latest Research Report on Waste Management

Insider Transactions at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Company Profile

(Free Report)

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

Further Reading

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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