Ieq Capital LLC Grows Stock Holdings in Waste Management, Inc. (NYSE:WM)

Ieq Capital LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,854 shares of the business services provider’s stock after acquiring an additional 1,540 shares during the quarter. Ieq Capital LLC’s holdings in Waste Management were worth $4,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. ARS Wealth Advisors Group LLC lifted its position in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the last quarter. Cypress Asset Management Inc. TX grew its holdings in shares of Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after buying an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC raised its holdings in Waste Management by 3.8% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $204.10 on Friday. 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 capitalization of $81.86 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The business has a 50-day moving average of $208.53 and a 200 day moving average of $208.68. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

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

Waste Management Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on WM shares. BMO Capital Markets lowered their target price 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. Truist Financial dropped their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report 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. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Eleven 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was 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 directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

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.