Aviance Capital Partners LLC Takes Position in Waste Management, Inc. (NYSE:WM)

Aviance Capital Partners LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,300 shares of the business services provider’s stock, valued at approximately $1,556,000.

Several other large investors have also recently made changes to their positions in WM. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Waste Management by 301.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,929 shares of the business services provider’s stock worth $1,971,000 after purchasing an additional 9,709 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Waste Management during the third quarter worth $530,000. Eventide Asset Management LLC acquired a new position in Waste Management during the third quarter worth $484,000. First Business Financial Services Inc. boosted its stake in Waste Management by 4.7% during the third quarter. First Business Financial Services Inc. now owns 1,565 shares of the business services provider’s stock worth $239,000 after buying an additional 70 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Waste Management by 41.8% during the third quarter. Jones Financial Companies Lllp now owns 600 shares of the business services provider’s stock worth $91,000 after buying an additional 177 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WM shares. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird upped their price target on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Royal Bank of Canada upped their price target on Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their price target on Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group upped their price target on Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Eleven 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 company’s stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management Stock Down 0.2 %

NYSE WM traded down $0.37 during trading hours on Monday, hitting $212.97. 166,712 shares of the company were exchanged, compared to its average volume of 1,718,545. The company has a 50 day moving average of $208.06 and a two-hundred day moving average of $200.00. 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, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The firm has a market cap of $85.42 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s payout ratio is currently 49.10%.

Insider Activity

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 value of $859,610.24. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.