Waste Management, Inc. (NYSE:WM) Shares Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its position in Waste Management, Inc. (NYSE:WM) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,581 shares of the business services provider’s stock after acquiring an additional 1,715 shares during the period. Red Door Wealth Management LLC’s holdings in Waste Management were worth $5,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sachetta LLC acquired a new stake in Waste Management during the 4th quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management during the 1st quarter valued at $35,000. Gilfoyle & Co LLC acquired a new stake in Waste Management during the 4th quarter valued at $30,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Waste Management during the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Waste Management during the 4th quarter worth $38,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Up 0.3 %

Shares of WM traded up $0.67 during midday trading on Friday, reaching $213.34. 2,908,229 shares of the company were exchanged, compared to its average volume of 1,972,412. The stock has a 50-day moving average price of $208.06 and a 200-day moving average price of $199.85. The company has a market cap of $85.57 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.48 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, June 7th. Waste Management’s dividend payout ratio is presently 49.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WM shares. Robert W. Baird lifted their price objective on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. TD Cowen lifted their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, April 29th. CIBC lifted their price objective on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. BMO Capital Markets lifted their price objective on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Finally, Morgan Stanley lifted their price objective on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $217.61.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.