Waste Management, Inc. $WM Shares Purchased by Money Concepts Capital Corp

Money Concepts Capital Corp raised its position in shares of Waste Management, Inc. (NYSE:WM) by 94.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,939 shares of the business services provider’s stock after buying an additional 22,269 shares during the quarter. Money Concepts Capital Corp’s holdings in Waste Management were worth $9,368,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in Waste Management during the second quarter worth about $322,479,000. Danske Bank A S bought a new position in shares of Waste Management during the second quarter valued at approximately $146,053,000. BlackRock Inc. raised its position in shares of Waste Management by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after purchasing an additional 535,079 shares during the period. State Street Corp raised its position in shares of Waste Management by 2.9% during the 2nd quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock worth $4,013,831,000 after purchasing an additional 507,209 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Waste Management by 90.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 806,172 shares of the business services provider’s stock worth $185,250,000 after purchasing an additional 382,079 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Johnson Varkey sold 500 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $242.00, for a total value of $121,000.00. Following the completion of the sale, the senior vice president owned 8,713 shares in the company, valued at $2,108,546. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO John Carroll sold 1,365 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. This represents a 28.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.18% of the stock is currently owned by insiders.

Waste Management Price Performance

NYSE WM opened at $244.00 on Friday. Waste Management, Inc. has a 12 month low of $200.57 and a 12 month high of $248.13. The firm has a market capitalization of $97.03 billion, a PE ratio of 32.02, a P/E/G ratio of 3.12 and a beta of 0.38. The company’s 50 day simple moving average is $221.00 and its 200 day simple moving average is $225.81. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.82 and a quick ratio of 0.78.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.81 billion. Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.98 earnings per share. As a group, equities research analysts forecast that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were paid a $0.9450 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 11th. Waste Management’s payout ratio is currently 49.61%.

Analyst Ratings Changes

A number of research analysts recently commented on WM shares. Raymond James Financial set a $251.00 price objective on Waste Management in a research note on Thursday, October 29th. Bank of America raised their target price on Waste Management from $245.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Robert W. Baird upped their price target on shares of Waste Management from $265.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Barclays increased their price objective on shares of Waste Management from $277.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Weiss Ratings upgraded shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Eighteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.04.

Waste Management Company Profile

Waste Management, Inc., doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure. WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.