Flagship Harbor Advisors LLC Has $1.83 Million Stake in Waste Management, Inc. (NYSE:WM)

Flagship Harbor Advisors LLC trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,550 shares of the business services provider’s stock after selling 97 shares during the period. Flagship Harbor Advisors LLC’s holdings in Waste Management were worth $1,830,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WM. Providence Capital Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $29,700,000. Moneta Group Investment Advisors LLC boosted its position in Waste Management by 110,208.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,778,550 shares of the business services provider’s stock worth $749,659,000 after buying an additional 4,774,218 shares during the period. Norges Bank acquired a new stake in Waste Management during the 4th quarter worth approximately $658,370,000. Morgan Stanley boosted its position in Waste Management by 30.4% during the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock worth $1,156,281,000 after buying an additional 1,718,449 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Waste Management by 194.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider’s stock worth $192,988,000 after buying an additional 804,708 shares during the period. 78.34% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM stock opened at $160.48 on Monday. The firm has a market capitalization of $65.00 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.72 and a beta of 0.72. The firm has a fifty day simple moving average of $161.99 and a two-hundred day simple moving average of $162.47. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.14. Waste Management, Inc. has a 12 month low of $148.31 and a 12 month high of $173.71.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Waste Management had a return on equity of 33.81% and a net margin of 11.42%. Waste Management’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. Analysts forecast that Waste Management, Inc. will post 5.96 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio is 50.36%.

Analysts Set New Price Targets

Several equities research analysts recently commented on WM shares. Raymond James cut their target price on shares of Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a research report on Thursday, July 27th. Citigroup lowered their price target on shares of Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. HSBC assumed coverage on shares of Waste Management in a report on Friday. They set a “buy” rating and a $192.00 price target for the company. StockNews.com started coverage on shares of Waste Management in a report on Thursday, August 17th. They set a “buy” rating for the company. Finally, BMO Capital Markets lowered their price objective on shares of Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $180.25.

Insiders Place Their Bets

In other Waste Management news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $131,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John C. Pope sold 198 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the transaction, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce E. Chinn sold 172 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the sale, the director now directly owns 822 shares in the company, valued at $131,059.68. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

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.