Waste Management, Inc. (NYSE:WM) Stock Position Reduced by Consolidated Planning Corp

Consolidated Planning Corp trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,056 shares of the business services provider’s stock after selling 59 shares during the quarter. Consolidated Planning Corp’s holdings in Waste Management were worth $244,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WM. Norges Bank bought a new stake in Waste Management in the fourth quarter worth approximately $1,009,726,000. GAMMA Investing LLC lifted its stake in shares of Waste Management by 26,095.2% in the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock worth $442,038,000 after buying an additional 1,902,081 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Waste Management in the fourth quarter worth $340,611,000. Capital Research Global Investors lifted its stake in shares of Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock worth $334,716,000 after buying an additional 1,184,905 shares during the last quarter. Finally, Parnassus Investments LLC lifted its stake in shares of Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock worth $1,265,629,000 after buying an additional 1,151,237 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. UBS Group boosted their price objective on shares of Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Melius initiated coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a “buy” rating for the company. Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a research note on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Eight 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. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $248.00.

Waste Management Trading Up 1.2%

Shares of Waste Management stock opened at $234.75 on Tuesday. The firm has a market capitalization of $94.47 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The company’s fifty day moving average price is $233.12 and its two-hundred day moving average price is $224.13. Waste Management, Inc. has a 52-week low of $196.59 and a 52-week high of $242.58.

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, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 EPS. On average, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction that occurred on 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 directly owns 16,542 shares of the company’s stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management 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.