Moors & Cabot Inc. Increases Position in Waste Management, Inc. (NYSE:WM)

Moors & Cabot Inc. raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,306 shares of the business services provider’s stock after purchasing an additional 365 shares during the quarter. Waste Management accounts for 0.7% of Moors & Cabot Inc.’s portfolio, making the stock its 26th largest position. Moors & Cabot Inc.’s holdings in Waste Management were worth $12,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its position in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC bought a new position in Waste Management during the 4th quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management in the 1st quarter worth about $35,000. Finally, DSM Capital Partners LLC bought a new position in shares of Waste Management during the fourth quarter worth about $38,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM opened at $208.36 on Tuesday. The firm has a market capitalization of $83.57 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The stock’s fifty day moving average is $209.19 and its 200-day moving average is $208.80. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. 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 (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on WM. Royal Bank of Canada cut their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. CIBC decreased their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Oppenheimer dropped their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.83.

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.