EdgeRock Capital LLC Purchases New Position in Waste Management, Inc. (NYSE:WM)

EdgeRock Capital LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 4th quarter, HoldingsChannel reports. The firm purchased 618 shares of the business services provider’s stock, valued at approximately $116,000.

Several other large investors have also made changes to their positions in WM. Quent Capital LLC lifted its holdings in shares of Waste Management by 7.3% during the 4th quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 55 shares in the last quarter. Drake & Associates LLC grew its holdings in Waste Management by 3.4% in the 4th quarter. Drake & Associates LLC now owns 1,652 shares of the business services provider’s stock valued at $296,000 after buying an additional 55 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in Waste Management by 2.9% in the 4th quarter. Alpha Cubed Investments LLC now owns 1,973 shares of the business services provider’s stock valued at $353,000 after buying an additional 56 shares in the last quarter. Peoples Financial Services CORP. grew its holdings in Waste Management by 1.7% in the 4th quarter. Peoples Financial Services CORP. now owns 3,459 shares of the business services provider’s stock valued at $620,000 after buying an additional 57 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in Waste Management by 3.4% in the 4th quarter. PDS Planning Inc now owns 1,816 shares of the business services provider’s stock valued at $325,000 after buying an additional 59 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE:WM traded down $0.06 during trading hours on Tuesday, hitting $210.50. 1,282,859 shares of the company’s stock traded hands, compared to its average volume of 1,677,830. The firm has a market cap of $84.43 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.71 and a beta of 0.72. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The business’s fifty day simple moving average is $209.04 and its two-hundred day simple moving average is $189.80. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Waste Management, Inc. will post 7.26 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 775 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now owns 75,204 shares in the company, valued at $14,934,010.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Charles C. Boettcher sold 3,275 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the sale, the executive vice president now directly owns 36,403 shares in the company, valued at $7,262,034.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 775 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the sale, the chief financial officer now owns 75,204 shares of the company’s stock, valued at $14,934,010.32. The disclosure for this sale can be found here. Insiders sold 18,007 shares of company stock worth $3,696,520 in the last ninety days. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. raised their target price on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and increased their price target for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. Royal Bank of Canada increased their price target on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Finally, TD Cowen raised their target price on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $216.24.

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.