MV Capital Management Inc. Grows Stake in Waste Management, Inc. (NYSE:WM)

MV Capital Management Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,087 shares of the business services provider’s stock after purchasing an additional 51 shares during the quarter. MV Capital Management Inc.’s holdings in Waste Management were worth $252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Transce3nd LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management during the 4th quarter valued at about $33,000. Hurley Capital LLC acquired a new position in shares of Waste Management in the fourth quarter valued at about $34,000. Sierra Ocean LLC purchased a new position in shares of Waste Management in the fourth quarter worth about $36,000. Finally, Fairway Wealth LLC lifted its holdings in shares of Waste Management by 87.6% during the fourth quarter. Fairway Wealth LLC now owns 197 shares of the business services provider’s stock worth $40,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 0.1%

Shares of WM stock opened at $234.22 on Thursday. The stock has a 50 day simple moving average of $231.42 and a 200-day simple moving average of $223.70. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58. The company has a market cap of $94.25 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

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

Waste Management Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, June 6th. Waste Management’s payout ratio is 49.77%.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent research reports. HSBC raised shares of Waste Management from a “hold” rating to a “buy” rating and raised their price target for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. UBS Group raised their target price on shares of Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Citigroup upped their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a report on Thursday, May 1st. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Tuesday, April 29th. Finally, Hsbc Global Res raised Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.00.

Insiders Place Their Bets

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

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.