B. Riley Wealth Advisors Inc. Has $5.86 Million Stock Position in Waste Management, Inc. (NYSE:WM)

B. Riley Wealth Advisors Inc. trimmed its stake in Waste Management, Inc. (NYSE:WM) by 22.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,487 shares of the business services provider’s stock after selling 7,837 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Waste Management were worth $5,864,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. NEOS Investment Management LLC lifted its holdings in shares of Waste Management by 38.9% during the fourth quarter. NEOS Investment Management LLC now owns 5,181 shares of the business services provider’s stock worth $928,000 after buying an additional 1,452 shares during the last quarter. Rafferty Asset Management LLC boosted its position in Waste Management by 4.9% in the fourth quarter. Rafferty Asset Management LLC now owns 30,746 shares of the business services provider’s stock valued at $5,507,000 after buying an additional 1,431 shares in the last quarter. Cornerstone Advisory LLC grew its position in Waste Management by 5.8% during the 4th quarter. Cornerstone Advisory LLC now owns 2,336 shares of the business services provider’s stock worth $418,000 after acquiring an additional 128 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Waste Management by 3.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 84,273 shares of the business services provider’s stock worth $15,093,000 after purchasing an additional 2,505 shares during the last quarter. Finally, Edge Capital Group LLC grew its holdings in Waste Management by 6.2% during the 4th quarter. Edge Capital Group LLC now owns 5,706 shares of the business services provider’s stock worth $1,022,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WM shares. Royal Bank of Canada lowered their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” 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 research note on Friday, July 26th. Oppenheimer dropped their price target 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. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, CIBC reduced their price target 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. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on 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 sale, the vice president now directly 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 can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

Shares of WM opened at $207.52 on Tuesday. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The firm has a market capitalization of $83.28 billion, a PE ratio of 33.96, a PEG ratio of 2.30 and a beta of 0.74. The company’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.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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 firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.45%. Waste Management’s dividend payout ratio is presently 49.10%.

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.