Broadway Wealth Solutions Inc. Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Broadway Wealth Solutions Inc. trimmed its position in shares of Waste Management, Inc. (NYSE:WM) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,476 shares of the business services provider’s stock after selling 87 shares during the period. Broadway Wealth Solutions Inc.’s holdings in Waste Management were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Waste Management by 14.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,475 shares of the business services provider’s stock valued at $2,921,000 after buying an additional 1,815 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake in Waste Management by 13.0% in the fourth quarter. Stratos Wealth Advisors LLC now owns 2,013 shares of the business services provider’s stock valued at $406,000 after buying an additional 232 shares during the last quarter. Financial Advocates Investment Management raised its stake in shares of Waste Management by 3.1% in the fourth quarter. Financial Advocates Investment Management now owns 4,003 shares of the business services provider’s stock worth $808,000 after purchasing an additional 121 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Waste Management by 7.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 874 shares of the business services provider’s stock worth $176,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Hsbc Global Res upgraded Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Seaport Res Ptn raised Waste Management to a “hold” rating in a research note on Tuesday, May 6th. National Bank Financial raised Waste Management to a “hold” rating in a research note on Monday, May 26th. UBS Group boosted their price objective on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Finally, Robert W. Baird lifted their target price on Waste Management from $235.00 to $245.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.06.

Waste Management Stock Performance

Waste Management stock opened at $236.33 on Friday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The stock has a fifty day moving average of $231.31 and a two-hundred day moving average of $223.47. The company has a market capitalization of $95.10 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.71 and a beta of 0.66. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.14 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, June 6th. Waste Management’s payout ratio is currently 49.77%.

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.