NewEdge Advisors LLC Has $9.26 Million Stock Position in Waste Management, Inc. (NYSE:WM)

NewEdge Advisors LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 11.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,413 shares of the business services provider’s stock after buying an additional 4,435 shares during the quarter. NewEdge Advisors LLC’s holdings in Waste Management were worth $9,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Magnolia Capital Advisors LLC lifted its holdings in shares of Waste Management by 145.7% during the second quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock worth $700,000 after buying an additional 1,947 shares in the last quarter. Buck Wealth Strategies LLC increased its position in shares of Waste Management by 7.8% in the second quarter. Buck Wealth Strategies LLC now owns 46,890 shares of the business services provider’s stock worth $10,003,000 after purchasing an additional 3,382 shares during the period. Kathmere Capital Management LLC increased its position in shares of Waste Management by 23.9% in the second quarter. Kathmere Capital Management LLC now owns 7,083 shares of the business services provider’s stock worth $1,511,000 after purchasing an additional 1,366 shares during the period. Legal & General Group Plc increased its position in shares of Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after purchasing an additional 243,900 shares during the period. Finally, MBB Public Markets I LLC increased its position in shares of Waste Management by 1,798.6% in the second quarter. MBB Public Markets I LLC now owns 28,897 shares of the business services provider’s stock worth $6,165,000 after purchasing an additional 27,375 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WM. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. CIBC decreased their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Oppenheimer decreased their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, BMO Capital Markets reduced their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $215.83.

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 that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $207.52 on Tuesday. The stock’s 50 day moving average is $206.76 and its 200 day moving average is $208.60. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The firm has a market cap of $83.28 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00.

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, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, research analysts expect 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 was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

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.