MRP Capital Investments LLC Has $1 Million Stock Position in Waste Management, Inc. (NYSE:WM)

MRP Capital Investments LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,690 shares of the business services provider’s stock after selling 390 shares during the quarter. MRP Capital Investments LLC’s holdings in Waste Management were worth $1,001,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC acquired a new stake in Waste Management during the fourth quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management during the 1st quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. CIBC dropped their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Down 0.6 %

NYSE:WM opened at $201.85 on Thursday. The company has a market cap of $81.01 billion, a price-to-earnings ratio of 33.04, a P/E/G ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock’s fifty day moving average price is $208.87 and its two-hundred day moving average price is $208.73. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

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.