Heritage Wealth Management Inc. Takes $1.09 Million Position in Waste Management, Inc. (NYSE:WM)

Heritage Wealth Management Inc. bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,162 shares of the business services provider’s stock, valued at approximately $1,086,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ARS Wealth Advisors Group LLC grew its position in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after purchasing an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC raised its stake in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.2 %

Shares of NYSE:WM opened at $207.92 on Wednesday. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. 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 stock’s 50-day moving average is $206.54 and its 200 day moving average is $208.58. The company has a market cap of $83.44 billion, a PE ratio of 34.03, a P/E/G ratio of 2.30 and a beta of 0.74.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WM shares. CIBC lowered their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets lowered their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Finally, Truist Financial decreased their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.