Ignite Planners LLC Decreases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Ignite Planners LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,047 shares of the business services provider’s stock after selling 250 shares during the period. Ignite Planners LLC’s holdings in Waste Management were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WM. Morgan Stanley lifted its stake in shares of Waste Management by 30.4% in the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock worth $1,156,281,000 after acquiring an additional 1,718,449 shares during the period. Geode Capital Management LLC raised its position in Waste Management by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 7,024,158 shares of the business services provider’s stock worth $1,099,729,000 after acquiring an additional 34,007 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 5,728,930 shares of the business services provider’s stock worth $935,111,000 after purchasing an additional 45,109 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Waste Management by 3.2% in the fourth quarter. Lazard Asset Management LLC now owns 5,112,019 shares of the business services provider’s stock valued at $801,972,000 after purchasing an additional 160,466 shares during the period. Finally, Providence Capital Advisors LLC purchased a new stake in Waste Management during the first quarter worth about $29,700,000. 78.34% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.0 %

Shares of NYSE WM traded up $0.03 on Monday, hitting $160.51. The company had a trading volume of 376,310 shares, compared to its average volume of 1,587,952. The firm has a market capitalization of $65.02 billion, a P/E ratio of 28.86, a PEG ratio of 2.72 and a beta of 0.72. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.14. Waste Management, Inc. has a 12-month low of $148.31 and a 12-month high of $173.71. The business has a 50 day moving average of $161.99 and a two-hundred day moving average of $162.47.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). The firm had revenue of $5.12 billion for 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 company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 5.96 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

Insider Activity at Waste Management

In other Waste Management news, Director John C. Pope sold 198 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $168.40, for a total value of $33,343.20. Following the transaction, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Bruce E. Chinn sold 172 shares of Waste Management 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 completion of the transaction, the director now owns 822 shares in the company, valued at approximately $131,059.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John C. Pope sold 198 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the sale, the director now directly owns 56,147 shares in the company, valued at $9,455,154.80. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WM has been the subject of several research analyst reports. Raymond James dropped their price objective on Waste Management from $185.00 to $179.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. StockNews.com assumed coverage on Waste Management in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. HSBC started coverage on Waste Management in a report on Friday. They issued a “buy” rating and a $192.00 price target for the company. Citigroup decreased their price target on shares of Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, BMO Capital Markets decreased their target price on shares of Waste Management from $167.00 to $166.00 in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.25.

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.