Fiduciary Financial Group LLC Makes New $446,000 Investment in Waste Management, Inc. (NYSE:WM)

Fiduciary Financial Group LLC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 2,019 shares of the business services provider’s stock, valued at approximately $446,000.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its holdings in Waste Management by 29.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC raised its stake in shares of Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX lifted its holdings in shares of Waste Management by 1.2% in the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after acquiring an additional 50 shares during the last quarter. McAdam LLC boosted its stake in shares of Waste Management by 4.0% during the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after purchasing an additional 51 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Waste Management by 4.4% during the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 52 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.7 %

Shares of WM traded down $1.52 during trading hours on Friday, hitting $205.39. The company had a trading volume of 1,535,612 shares, compared to its average volume of 1,709,305. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $82.43 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company’s fifty day moving average price is $208.84 and its two-hundred day moving average price is $206.79.

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

Insider Buying and Selling at Waste Management

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

Analysts Set New Price Targets

WM has been the subject of several recent analyst reports. Truist Financial dropped their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. TD Cowen boosted their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. BMO Capital Markets reduced their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

About Waste Management

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.