Connecticut Wealth Management LLC Buys 875 Shares of Waste Management, Inc. (NYSE:WM)

Connecticut Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 62.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,285 shares of the business services provider’s stock after buying an additional 875 shares during the period. Connecticut Wealth Management LLC’s holdings in Waste Management were worth $409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilfoyle & Co LLC bought a new position in shares of Waste Management in the fourth quarter worth $30,000. Millburn Ridgefield Corp purchased a new position in Waste Management in the 3rd quarter worth $35,000. Rational Advisors LLC bought a new stake in Waste Management in the third quarter worth $41,000. Annapolis Financial Services LLC boosted its position in Waste Management by 40.1% during the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock valued at $50,000 after buying an additional 93 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Waste Management in the third quarter worth about $51,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HSBC cut Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target on the stock. in a research note on Thursday, February 15th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and raised their price objective for the company from $190.00 to $205.00 in a research report on Wednesday, February 14th. TD Cowen increased their target price on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Morgan Stanley upped their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Robert W. Baird lifted their target price on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $216.24.

Waste Management Trading Up 1.1 %

WM traded up $2.25 on Monday, hitting $210.13. The company had a trading volume of 563,240 shares, compared to its average volume of 1,669,884. The company has a market cap of $84.28 billion, a PE ratio of 34.02, a PEG ratio of 2.71 and a beta of 0.72. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54. The business’s fifty day simple moving average is $208.92 and its 200 day simple moving average is $189.05. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. 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 firm earned $1.31 earnings per share. Equities research analysts expect that Waste Management, Inc. will post 7.26 EPS for the current year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is presently 49.10%.

Insider Transactions at Waste Management

In related news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares in the company, valued at approximately $6,217,331.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald J. Smith sold 329 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now owns 5,522 shares in the company, valued at approximately $1,096,448.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is currently owned by insiders.

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.