Allworth Financial LP Boosts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Allworth Financial LP raised its holdings in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 9.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,886 shares of the business services provider’s stock after purchasing an additional 835 shares during the period. Allworth Financial LP’s holdings in Waste Management were worth $1,512,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. purchased a new position in Waste Management during the 1st quarter valued at about $32,000. GoalVest Advisory LLC grew its position in shares of Waste Management by 2,030.0% in the 2nd quarter. GoalVest Advisory LLC now owns 213 shares of the business services provider’s stock worth $32,000 after buying an additional 203 shares during the last quarter. TFO TDC LLC purchased a new position in shares of Waste Management in the 1st quarter worth approximately $34,000. James Reed Financial Services Inc. purchased a new position in shares of Waste Management in the 4th quarter worth approximately $37,000. Finally, Riverview Trust Co purchased a new position in shares of Waste Management in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 74.74% of the company’s stock.

Waste Management Stock Down 1.2 %

WM stock opened at $166.87 on Friday. The firm has a 50 day moving average of $167.57 and a 200 day moving average of $159.87. The stock has a market capitalization of $68.97 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 1.95. Waste Management, Inc. has a 52 week low of $138.58 and a 52 week high of $175.98.

Waste Management (NYSE:WMGet Rating) last released its earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.08. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. Waste Management’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 5.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 8th. Waste Management’s payout ratio is 50.78%.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director John C. Pope sold 219 shares of Waste Management stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $152.19, for a total transaction of $33,329.61. Following the completion of the sale, the director now directly owns 55,439 shares in the company, valued at approximately $8,437,261.41. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP John J. Morris sold 22,795 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $169.82, for a total value of $3,871,046.90. Following the completion of the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $16,211,187.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Pope sold 219 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $152.19, for a total transaction of $33,329.61. Following the completion of the transaction, the director now owns 55,439 shares of the company’s stock, valued at $8,437,261.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,067 shares of company stock worth $9,292,271. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Waste Management from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 20th. Oppenheimer set a $160.00 price objective on shares of Waste Management in a research report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Hold” and a consensus target price of $164.86.

Waste Management Profile

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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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

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