Waste Management, Inc. (NYSE:WM) is Wealth Advisors of Tampa Bay LLC’s 4th Largest Position

Wealth Advisors of Tampa Bay LLC trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,449 shares of the business services provider’s stock after selling 107 shares during the period. Waste Management makes up approximately 3.4% of Wealth Advisors of Tampa Bay LLC’s holdings, making the stock its 4th biggest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Waste Management were worth $7,349,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related 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 completion of the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Up 1.3 %

Shares of Waste Management stock opened at $204.54 on Friday. 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 has a market cap of $82.09 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.33 and a beta of 0.74. The firm’s 50-day moving average is $208.73 and its two-hundred day moving average is $208.70.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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 company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.51 earnings per share. As a group, research analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on WM shares. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report 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 for the company in a report on Friday, July 26th. Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. CIBC dropped 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. Finally, Robert W. Baird reduced their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

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.