Waste Management, Inc. (NYSE:WM) Shares Purchased by Lbp Am Sa

Lbp Am Sa raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 320.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 41,416 shares of the business services provider’s stock after buying an additional 31,569 shares during the period. Lbp Am Sa’s holdings in Waste Management were worth $9,588,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rehmann Capital Advisory Group lifted its holdings in Waste Management by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 5,724 shares of the business services provider’s stock valued at $1,325,000 after acquiring an additional 110 shares during the period. Dogwood Wealth Management LLC raised its stake in shares of Waste Management by 3.4% during the 1st quarter. Dogwood Wealth Management LLC now owns 3,122 shares of the business services provider’s stock worth $723,000 after buying an additional 102 shares during the period. Flossbach Von Storch SE acquired a new position in shares of Waste Management during the 1st quarter worth approximately $316,000. Valeo Financial Advisors LLC raised its stake in shares of Waste Management by 16.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 10,883 shares of the business services provider’s stock worth $2,520,000 after buying an additional 1,563 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Waste Management by 12.9% during the 1st quarter. Stratos Wealth Partners LTD. now owns 16,345 shares of the business services provider’s stock worth $3,784,000 after buying an additional 1,870 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the subject of several research analyst reports. Robert W. Baird upped their target price on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Seaport Res Ptn raised Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Scotiabank increased their price objective on Waste Management from $260.00 to $265.00 and gave the company a “sector outperform” rating in a research note on Friday, June 27th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.29.

Waste Management Stock Up 0.6%

Shares of NYSE:WM opened at $226.19 on Thursday. The business has a 50-day moving average price of $232.60 and a 200 day moving average price of $225.29. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $91.02 billion, a price-to-earnings ratio of 34.12, a PEG ratio of 2.98 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58.

Waste Management (NYSE:WM) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same period last year, the business posted $1.75 EPS. Waste Management’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is 49.77%.

Waste Management Company 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.