Frank Rimerman Advisors LLC Acquires 8,028 Shares of Waste Management, Inc. (NYSE:WM)

Frank Rimerman Advisors LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 53,520.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,043 shares of the business services provider’s stock after acquiring an additional 8,028 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Waste Management were worth $1,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Hexagon Capital Partners LLC boosted its stake in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management during the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management in the first quarter worth approximately $35,000. Fairway Wealth LLC lifted its stake 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 worth $36,000 after acquiring an additional 66 shares during the last quarter. Finally, DSM Capital Partners LLC purchased a new position in Waste Management during the 4th quarter valued at $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.3 %

Shares of Waste Management stock opened at $204.10 on Monday. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The firm’s 50 day moving average price is $208.53 and its 200-day moving average price is $208.70. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company has a market cap of $81.86 billion, a P/E ratio of 33.40, a PEG ratio of 2.33 and a beta of 0.74.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

Analyst Upgrades and Downgrades

WM has been the subject of several research analyst reports. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Oppenheimer dropped their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Robert W. Baird decreased 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. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management 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.