J.W. Cole Advisors Inc. Reduces Position in Waste Management, Inc. (NYSE:WM)

J.W. Cole Advisors Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WMGet Rating) by 6.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,477 shares of the business services provider’s stock after selling 256 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Waste Management were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in shares of Waste Management by 10.4% during the first quarter. JFS Wealth Advisors LLC now owns 688 shares of the business services provider’s stock valued at $109,000 after buying an additional 65 shares during the last quarter. Edge Capital Group LLC lifted its position in Waste Management by 1.9% during the first quarter. Edge Capital Group LLC now owns 3,495 shares of the business services provider’s stock valued at $554,000 after purchasing an additional 65 shares during the period. Berger Financial Group Inc lifted its position in Waste Management by 4.2% during the first quarter. Berger Financial Group Inc now owns 1,612 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 65 shares during the period. Clean Yield Group lifted its position in Waste Management by 9.1% during the first quarter. Clean Yield Group now owns 792 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 66 shares during the period. Finally, Glassman Wealth Services lifted its position in Waste Management by 7.1% during the first quarter. Glassman Wealth Services now owns 1,007 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 67 shares during the period. 74.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Waste Management from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 20th. Oppenheimer set a $160.00 target price on shares of Waste Management in a research report on Tuesday, July 19th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $164.86.

Insider Activity

In other news, VP Michael J. Watson sold 8,971 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $169.83, for a total value of $1,523,544.93. Following the completion of the sale, the vice president now owns 32,221 shares of the company’s stock, valued at approximately $5,472,092.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director John C. Pope sold 219 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $152.19, for a total value of $33,329.61. Following the transaction, the director now directly owns 55,439 shares in the company, valued at approximately $8,437,261.41. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Watson sold 8,971 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the completion of the transaction, the vice president now owns 32,221 shares in the company, valued at $5,472,092.43. The disclosure for this sale can be found here. Insiders sold a total of 54,067 shares of company stock valued at $9,292,271 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Down 1.0 %

Shares of Waste Management stock opened at $169.34 on Monday. The firm has a 50-day simple moving average of $166.15 and a two-hundred day simple moving average of $159.52. The company has a market cap of $69.99 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76. Waste Management, Inc. has a fifty-two week low of $138.58 and a fifty-two week high of $175.98. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WMGet Rating) last released its earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.08. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Waste Management had a net margin of 11.27% and a return on equity of 30.69%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. As a group, equities analysts predict that Waste Management, Inc. will post 5.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 1.54%. Waste Management’s dividend payout ratio (DPR) is 50.78%.

Waste Management Profile

(Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

See Also

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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