Tidal Investments LLC Buys 6,456 Shares of Waste Management, Inc. $WM

Tidal Investments LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 74,348 shares of the business services provider’s stock after purchasing an additional 6,456 shares during the quarter. Tidal Investments LLC’s holdings in Waste Management were worth $16,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. RHL Group LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $29,000. Financial Network Wealth Advisors LLC boosted its position in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in Waste Management during the fourth quarter worth about $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management during the third quarter worth approximately $30,000. Finally, Main Street Group LTD bought a new position in shares of Waste Management in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus boosted their target price on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce downgraded Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Oppenheimer lowered their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. Finally, Scotiabank upped their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.89.

Insider Activity

In other news, CAO John Carroll sold 1,365 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, 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. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $214.56 on Friday. The stock has a market cap of $85.76 billion, a price-to-earnings ratio of 30.39, a P/E/G ratio of 2.73 and a beta of 0.42. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The business’s 50-day simple moving average is $227.81 and its 200 day simple moving average is $226.67.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company posted $1.92 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.945 per share. The ex-dividend date is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a yield of 1.8%. Waste Management’s dividend payout ratio (DPR) is 53.54%.

Waste Management Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.