EverSource Wealth Advisors LLC Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

EverSource Wealth Advisors LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 60.9% in the first quarter, Holdings Channel.com reports. The firm owned 1,683 shares of the business services provider’s stock after purchasing an additional 637 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Waste Management were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Hexagon Capital Partners LLC raised its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Sachetta LLC bought a new position in shares of Waste Management in the 4th quarter worth approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Waste Management in the 1st quarter worth approximately $35,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Waste Management in the 4th quarter worth approximately $36,000. Finally, DSM Capital Partners LLC bought a new position in Waste Management during the 4th quarter valued at approximately $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. TD Cowen boosted 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. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the firm’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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Up 0.8 %

Shares of NYSE:WM traded up $1.69 during trading on Friday, hitting $207.76. The company’s stock had a trading volume of 1,793,144 shares, compared to its average volume of 1,617,543. The business has a 50 day moving average price of $208.97 and a two-hundred day moving average price of $205.50. The company has a market capitalization of $83.38 billion, a PE ratio of 34.00, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 earnings per share. As a group, research analysts expect that Waste Management, Inc. will post 7.25 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Waste Management Company 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.