Silver Oak Securities Incorporated Purchases 3,531 Shares of Waste Management, Inc. (NYSE:WM)

Silver Oak Securities Incorporated raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 69.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,650 shares of the business services provider’s stock after purchasing an additional 3,531 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Waste Management were worth $1,972,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Transce3nd LLC bought a new position in Waste Management in the 4th quarter valued at about $28,000. West Branch Capital LLC boosted its position in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Waste Management during the fourth quarter worth $33,000. Hurley Capital LLC purchased a new stake in Waste Management in the 4th quarter valued at $34,000. Finally, Sierra Ocean LLC purchased a new position in Waste Management during the 4th quarter worth $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM opened at $233.14 on Thursday. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58. The stock’s 50-day simple moving average is $232.89 and its 200 day simple moving average is $223.95. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.79 and a current ratio of 0.83. The stock has a market capitalization of $93.82 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 3.10 and a beta of 0.66.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the prior year, the firm posted $1.75 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, June 6th. Waste Management’s payout ratio is 49.77%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. CIBC increased their target price on shares of Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Melius started coverage on Waste Management in a research report on Monday, June 9th. They set a “buy” rating for the company. Citigroup increased their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, National Bank Financial raised shares of Waste Management to a “hold” rating in a research report on Monday, May 26th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Activity

In other news, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $13,740,295.68. Following the transaction, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% 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.