Praxis Capital Management LLC Purchases New Holdings in Waste Management, Inc. $WM

Praxis Capital Management LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,446 shares of the business services provider’s stock, valued at approximately $757,000. Waste Management accounts for about 2.7% of Praxis Capital Management LLC’s portfolio, making the stock its 12th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC purchased a new stake in Waste Management in the 3rd quarter valued at approximately $30,000. Kelleher Financial Advisors acquired a new position in Waste Management during the 4th quarter worth approximately $31,000. Finally, Holos Integrated Wealth LLC acquired a new position in Waste Management during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, SVP Johnson Varkey sold 121 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the sale, the senior vice president owned 9,293 shares of the company’s stock, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John J. Morris sold 4,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the transaction, the chief operating officer directly owned 99,929 shares in the company, valued at approximately $24,320,720.02. This represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,296 shares of company stock worth $8,569,283 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WM. Wolfe Research began coverage on Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Robert W. Baird boosted their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Barclays boosted their target price on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company dropped their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Waste Management Price Performance

WM stock opened at $218.09 on Friday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock’s 50 day moving average price is $227.00 and its 200 day moving average price is $223.51. The firm has a market cap of $87.58 billion, a P/E ratio of 31.56, a PEG ratio of 2.28 and a beta of 0.49.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the company earned $1.67 EPS. Waste Management’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.945 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management’s dividend payout ratio is presently 54.70%.

Waste Management Profile

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.