Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 27,383 shares of the business services provider’s stock after buying an additional 1,028 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Waste Management were worth $3,230,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WM. Joseph P. Lucia & Associates LLC purchased a new position in Waste Management in the first quarter worth $31,000. Hanson McClain Inc. boosted its position in Waste Management by 51.0% in the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% in the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Personal Wealth Partners purchased a new position in Waste Management in the second quarter worth $35,000. Finally, Acima Private Wealth LLC purchased a new position in Waste Management in the first quarter worth $39,000. 73.43% of the stock is currently owned by institutional investors.

Shares of WM traded up $1.98 during mid-day trading on Thursday, hitting $117.98. The stock had a trading volume of 48,368 shares, compared to its average volume of 1,648,394. The company has a market capitalization of $49.94 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 3.18 and a beta of 0.62. The stock’s fifty day moving average price is $117.09. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.66 and a current ratio of 1.70. Waste Management, Inc. has a 52 week low of $83.22 and a 52 week high of $119.56.



Waste Management (NYSE:WM) last issued its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, research analysts predict that Waste Management, Inc. will post 4.33 earnings per share for the current year.

In related news, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the sale, the director now directly owns 53,378 shares in the company, valued at approximately $6,331,164.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the sale, the chief executive officer now owns 282,921 shares in the company, valued at $32,963,125.71. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Several research firms have weighed in on WM. JPMorgan Chase & Co. started coverage on Waste Management in a research report on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price objective on the stock. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Argus boosted their target price on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada set a $126.00 target price on Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp boosted their target price on Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $113.91.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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