Heritage Wealth Management LLC Acquires New Position in Waste Management, Inc. (NYSE:WM)

Heritage Wealth Management LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 350 shares of the business services provider’s stock, valued at approximately $49,000.

Other large investors have also made changes to their positions in the company. Twin Lakes Capital Management LLC bought a new position in Waste Management in the 1st quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new position in Waste Management in the 2nd quarter worth about $25,000. KB Financial Partners LLC bought a new position in Waste Management in the 1st quarter worth about $26,000. Princeton Global Asset Management LLC bought a new position in Waste Management in the 1st quarter worth about $32,000. Finally, Godsey & Gibb Associates lifted its stake in shares of Waste Management by 58.0% in the 2nd quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock worth $33,000 after acquiring an additional 87 shares during the period. 74.10% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on WM shares. BMO Capital Markets upped their price target on shares of Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Raymond James reissued an “outperform” rating and set a $146.70 target price (down from $147.00) on shares of Waste Management in a research note on Monday, July 26th. Morgan Stanley increased their target price on shares of Waste Management from $133.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 13th. Finally, Oppenheimer increased their target price on shares of Waste Management from $146.00 to $152.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $139.97.

In other Waste Management news, CFO Devina A. Rankin sold 33,115 shares of the stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $155.18, for a total value of $5,138,785.70. Following the completion of the sale, the chief financial officer now directly owns 53,434 shares of the company’s stock, valued at approximately $8,291,888.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 3,500 shares of the stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $145.00, for a total transaction of $507,500.00. Following the completion of the sale, the executive vice president now directly owns 19,091 shares of the company’s stock, valued at $2,768,195. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,415 shares of company stock valued at $12,300,321. 0.16% of the stock is owned by insiders.

Waste Management stock opened at $154.19 on Friday. The firm has a market cap of $64.93 billion, a PE ratio of 40.90, a P/E/G ratio of 2.50 and a beta of 0.81. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.84 and a current ratio of 0.88. The firm’s 50 day moving average price is $151.08 and its two-hundred day moving average price is $141.39. Waste Management, Inc. has a twelve month low of $106.11 and a twelve month high of $156.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.09. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 4.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Friday, September 3rd were issued a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, September 2nd. Waste Management’s dividend payout ratio is currently 57.07%.

Waste Management Company Profile

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

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

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