Waste Management, Inc. (NYSE:WM) Position Boosted by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 21.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,187 shares of the business services provider’s stock after buying an additional 10,906 shares during the period. Independent Advisor Alliance’s holdings in Waste Management were worth $12,702,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Activest Wealth Management increased its stake in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the second quarter valued at approximately $31,000. Fairway Wealth LLC boosted its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Fairscale Capital LLC purchased a new position in Waste Management during the 2nd quarter worth approximately $39,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Waste Management during the 2nd quarter worth approximately $36,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WM has been the topic of a number of research analyst reports. CIBC lifted their price target on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Argus lifted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Scotiabank assumed coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. UBS Group boosted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Up 1.3 %

Waste Management stock opened at $224.41 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84. The firm has a fifty day moving average price of $212.84 and a two-hundred day moving average price of $210.10. The firm has a market cap of $90.07 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.32 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, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.