Prestige Wealth Management Group LLC Purchases 133 Shares of Waste Management, Inc. (NYSE:WM)

Prestige Wealth Management Group LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.2% during the third quarter, Holdings Channel reports. The fund owned 1,751 shares of the business services provider’s stock after buying an additional 133 shares during the period. Prestige Wealth Management Group LLC’s holdings in Waste Management were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WM. Aberdeen Wealth Management LLC grew its stake in shares of Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its position in shares of Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after buying an additional 46 shares during the last quarter. ARS Wealth Advisors Group LLC increased its stake in shares of Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after buying an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after acquiring an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners boosted its holdings in Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 49 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

NYSE WM opened at $217.47 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $87.29 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.34 and a beta of 0.75. The stock has a 50-day moving average of $217.14 and a 200 day moving average of $211.27. Waste Management, Inc. has a one year low of $172.30 and a one year high of $230.39.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Analyst Ratings Changes

Several research analysts have commented on WM shares. UBS Group upped their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Monday. Argus upped their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Oppenheimer raised their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $229.33.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.