First Affirmative Financial Network Acquires Shares of 1,285 Waste Management, Inc. (NYSE:WM)

First Affirmative Financial Network bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,285 shares of the business services provider’s stock, valued at approximately $223,000.

Other large investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management in the 1st quarter valued at $29,000. Ten Capital Wealth Advisors LLC boosted its stake in Waste Management by 1,106.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Steward Financial Group LLC purchased a new position in shares of Waste Management during the fourth quarter worth about $31,000. KB Financial Partners LLC acquired a new stake in shares of Waste Management during the first quarter worth about $33,000. Finally, State of Wyoming purchased a new stake in shares of Waste Management in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Insider Activity at Waste Management

In related news, Director Bruce E. Chinn sold 172 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the sale, the director now owns 822 shares in the company, valued at approximately $131,059.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total transaction of $27,423.68. Following the completion of the transaction, the director now owns 822 shares of the company’s stock, valued at approximately $131,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Pope sold 198 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the sale, the director now owns 56,147 shares in the company, valued at $9,455,154.80. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $160.48 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.14. The company has a 50-day moving average price of $161.99 and a 200 day moving average price of $162.37. Waste Management, Inc. has a 52 week low of $148.31 and a 52 week high of $173.71. The company has a market cap of $65.00 billion, a P/E ratio of 28.86, a PEG ratio of 2.72 and a beta of 0.72.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share. Research analysts predict that Waste Management, Inc. will post 5.96 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.74%. Waste Management’s dividend payout ratio is presently 50.36%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James cut their price target on Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a research report on Thursday, July 27th. BMO Capital Markets reduced their price target on shares of Waste Management from $167.00 to $166.00 in a research report on Thursday, July 27th. HSBC started coverage on shares of Waste Management in a research note on Friday. They set a “buy” rating and a $192.00 price target for the company. Citigroup reduced their target price on shares of Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. Finally, StockNews.com began coverage on Waste Management in a report on Thursday, August 17th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.25.

About Waste Management

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.