Legacy Capital Group California Inc. Increases Holdings in Waste Management, Inc. (NYSE:WM)

Legacy Capital Group California Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the business services provider’s stock after buying an additional 86 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Waste Management were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of WM. Aspire Private Capital LLC purchased a new stake in Waste Management during the 1st quarter valued at about $16,153,830,000. Spirit of America Management Corp NY purchased a new stake in shares of Waste Management during the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. bought a new position in shares of Waste Management in the second quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the first quarter worth $29,000. Finally, Ten Capital Wealth Advisors LLC boosted its position in Waste Management by 1,106.7% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock valued at $30,000 after buying an additional 166 shares during the period. 78.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of analyst reports. Scotiabank decreased their price objective on shares of Waste Management from $177.50 to $165.00 in a research report on Tuesday, October 10th. Wolfe Research started coverage on Waste Management in a report on Tuesday, October 17th. They issued a “peer perform” rating for the company. BMO Capital Markets boosted their target price on Waste Management from $160.00 to $163.00 and gave the company a “market perform” rating in a research note on Thursday, October 26th. Citigroup dropped their price target on Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, Raymond James reduced their price objective on shares of Waste Management from $179.00 to $175.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.77.

Waste Management Stock Down 0.5 %

NYSE:WM traded down $0.89 during mid-day trading on Friday, hitting $170.55. 1,966,539 shares of the company’s stock were exchanged, compared to its average volume of 1,754,957. Waste Management, Inc. has a one year low of $148.31 and a one year high of $173.71. The business has a fifty day moving average price of $160.86 and a 200 day moving average price of $163.08. The company has a market cap of $68.69 billion, a PE ratio of 30.19, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.84 and a quick ratio of 0.80.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, October 24th. The business services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.02. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.27 billion. Waste Management had a return on equity of 34.14% and a net margin of 11.47%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. Equities analysts predict that Waste Management, Inc. will post 5.96 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 30th. Waste Management’s dividend payout ratio is presently 49.56%.

Insider Activity at Waste Management

In other news, CEO James C. Fish, Jr. sold 4,167 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $172.00, for a total transaction of $716,724.00. Following the sale, the chief executive officer now owns 177,321 shares in the company, valued at $30,499,212. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Waste Management news, CEO James C. Fish, Jr. sold 5,383 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $172.00, for a total transaction of $925,876.00. Following the transaction, the chief executive officer now owns 171,938 shares in the company, valued at approximately $29,573,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James C. Fish, Jr. sold 4,167 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $172.00, for a total transaction of $716,724.00. Following the transaction, the chief executive officer now owns 177,321 shares in the company, valued at approximately $30,499,212. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

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.