Transcend Capital Advisors LLC Has $1.03 Million Holdings in Waste Management, Inc. (NYSE:WM)

Transcend Capital Advisors LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 20.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,806 shares of the business services provider’s stock after buying an additional 819 shares during the period. Transcend Capital Advisors LLC’s holdings in Waste Management were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in Waste Management in the fourth quarter valued at approximately $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management during the first quarter worth $300,594,000. Capital World Investors increased its holdings in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Mirova US LLC increased its holdings in shares of Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after buying an additional 910,418 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Waste Management during the first quarter worth $193,955,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 2.9 %

Shares of WM stock traded down $6.07 on Monday, reaching $201.69. 883,844 shares of the company were exchanged, compared to its average volume of 1,703,194. The company has a market cap of $80.89 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.32 and a beta of 0.74. The company has a 50-day moving average of $208.97 and a 200-day moving average of $205.84. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 EPS. Analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.49%. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WM. Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer lowered their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. TD Cowen upped their price target on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Finally, CIBC decreased their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management 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.