Waste Management, Inc. $WM Position Boosted by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 127,900.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,840 shares of the business services provider’s stock after buying an additional 3,837 shares during the period. Provenance Wealth Advisors LLC’s holdings in Waste Management were worth $783,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cornerstone Advisory LLC boosted its stake in Waste Management by 1.6% during the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock valued at $683,000 after buying an additional 46 shares in the last quarter. Magnus Financial Group LLC raised its position in Waste Management by 0.9% in the third quarter. Magnus Financial Group LLC now owns 5,267 shares of the business services provider’s stock worth $1,074,000 after acquiring an additional 46 shares in the last quarter. Rockland Trust Co. lifted its holdings in Waste Management by 3.4% in the 2nd quarter. Rockland Trust Co. now owns 1,493 shares of the business services provider’s stock valued at $333,000 after acquiring an additional 49 shares during the last quarter. First National Bank & Trust Co. of Newtown lifted its holdings in Waste Management by 4.7% in the 1st quarter. First National Bank & Trust Co. of Newtown now owns 1,118 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 50 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its position in shares of Waste Management by 4.0% during the 2nd quarter. Fiduciary Financial Group LLC now owns 1,304 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, CAO John Carroll sold 1,365 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer owned 3,509 shares in the company, valued at $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Waste Management Trading Up 1.5%

NYSE:WM opened at $238.26 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 1-year low of $197.47 and a 1-year high of $248.13. The firm has a market capitalization of $94.74 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 3.05 and a beta of 0.38. The stock has a fifty day simple moving average of $218.61 and a 200 day simple moving average of $225.41.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). The company had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.98 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 8.05 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.9450 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 11th. Waste Management’s dividend payout ratio (DPR) is presently 49.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WM shares. Stifel Nicolaus lifted their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley cut their target price on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Raymond James Financial set a $251.00 target price on shares of Waste Management in a report on Thursday, October 29th. UBS Group lifted their price target on shares of Waste Management from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Finally, BNP Paribas Exane dropped their price target on Waste Management from $248.00 to $245.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $257.89.

About Waste Management

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.