C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.35 Million in Waste Management, Inc. (NYSE:WM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,324 shares of the business services provider’s stock, valued at approximately $1,345,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Activest Wealth Management grew its position in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. bought a new stake in shares of Waste Management in the 4th quarter worth about $29,000. Sugar Maple Asset Management LLC bought a new position in shares of Waste Management during the fourth quarter worth about $35,000. Finally, Richardson Financial Services Inc. grew its stake in Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WM. Citigroup lifted their target price on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group increased their target price on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group decreased their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets increased their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted their target price on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.50.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 4,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the sale, the senior vice president now directly owns 18,531 shares of the company’s stock, valued at $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald J. Smith sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the sale, the vice president now owns 6,129 shares of the company’s stock, valued at approximately $1,349,728.38. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE:WM opened at $227.42 on Thursday. The business’s 50-day moving average price is $211.89 and its 200 day moving average price is $211.74. The firm has a market cap of $91.28 billion, a P/E ratio of 33.44, a PEG ratio of 2.70 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 52-week low of $194.20 and a 52-week high of $230.39.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

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.