Blue Chip Wealth Management Inc. Increases Stock Position in Waste Management, Inc. (NYSE:WM)

Blue Chip Wealth Management Inc. increased its position in Waste Management, Inc. (NYSE:WM) by 11.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,015 shares of the business services provider’s stock after purchasing an additional 917 shares during the quarter. Waste Management accounts for 1.1% of Blue Chip Wealth Management Inc.’s portfolio, making the stock its 28th largest position. Blue Chip Wealth Management Inc.’s holdings in Waste Management were worth $1,037,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new position in Waste Management during the 2nd quarter valued at $25,000. Financial Gravity Wealth Inc. boosted its stake in Waste Management by 133.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Personal Wealth Partners bought a new position in Waste Management during the 2nd quarter valued at $35,000. Next Capital Management LLC boosted its stake in Waste Management by 119.6% during the 2nd quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 177 shares during the last quarter. Finally, Coastal Capital Group Inc. bought a new position in Waste Management during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 73.24% of the company’s stock.

Shares of NYSE:WM opened at $117.05 on Friday. The stock has a market capitalization of $49.33 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. Waste Management, Inc. has a 1-year low of $83.22 and a 1-year high of $121.77. The company’s fifty day moving average is $115.90 and its two-hundred day moving average is $113.02. 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 (NYSE:WM) last issued its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Sell-side analysts expect that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.512 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.75%. Waste Management’s dividend payout ratio (DPR) is 48.81%.

In other Waste Management news, SVP Tara J. Hmmer sold 4,739 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $118.04, for a total transaction of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at $2,770,398.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Watson sold 8,019 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the sale, the vice president now directly owns 17,254 shares in the company, valued at $2,060,127.60. The disclosure for this sale can be found here. Insiders have sold 13,347 shares of company stock worth $1,585,155 over the last three months. 0.14% of the stock is owned by corporate insiders.

A number of research analysts have commented on WM shares. Raymond James set a $127.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada set a $126.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 price objective on the stock. Scotiabank started coverage on shares of Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating on the stock. Finally, ValuEngine downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $116.82.

Waste Management 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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