Resources Management Corp CT ADV Boosts Stake in Waste Management, Inc. (NYSE:WM)

Resources Management Corp CT ADV raised its position in Waste Management, Inc. (NYSE:WM) by 33.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,343 shares of the business services provider’s stock after buying an additional 3,376 shares during the period. Resources Management Corp CT ADV’s holdings in Waste Management were worth $2,847,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $300,594,000. Capital World Investors increased its stake in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares during the last quarter. Swedbank AB purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $193,955,000. Wulff Hansen & CO. increased its stake in shares of Waste Management by 20,402.6% during the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in shares of Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after purchasing an additional 720,358 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WM shares. Oppenheimer decreased their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. BMO Capital Markets cut their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Finally, StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Performance

NYSE WM opened at $207.13 on Tuesday. The company has a market capitalization of $83.08 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.33 and a beta of 0.74. The company has a fifty day moving average of $208.35 and a 200-day moving average of $208.70. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the company earned $1.51 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.