AE Wealth Management LLC Purchases 18,588 Shares of Waste Management, Inc. (NYSE:WM)
AE Wealth Management LLC raised its position in Waste Management, Inc. (NYSE:WM – Free Report) by 26.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,939 shares of the business services provider’s stock after acquiring an additional 18,588 shares during the quarter. AE Wealth Management LLC’s holdings in Waste Management were worth $13,405,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Steel Peak Wealth Management LLC raised its stake in shares of Waste Management by 4.7% in the second quarter. Steel Peak Wealth Management LLC now owns 3,858 shares of the business services provider’s stock worth $669,000 after buying an additional 173 shares during the period. American National Bank raised its stake in shares of Waste Management by 1,459.9% in the second quarter. American National Bank now owns 2,137 shares of the business services provider’s stock worth $371,000 after buying an additional 2,000 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Waste Management by 51.0% in the second quarter. Jefferies Financial Group Inc. now owns 43,400 shares of the business services provider’s stock worth $7,526,000 after buying an additional 14,664 shares during the period. WASHINGTON TRUST Co raised its stake in shares of Waste Management by 1.9% in the second quarter. WASHINGTON TRUST Co now owns 55,488 shares of the business services provider’s stock worth $9,623,000 after buying an additional 1,055 shares during the period. Finally, Sawgrass Asset Management LLC bought a new position in shares of Waste Management in the second quarter worth about $208,000. Institutional investors own 78.34% of the company’s stock.
Insider Transactions at Waste Management
In other news, VP Michael J. Watson sold 14,288 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $170.44, for a total value of $2,435,246.72. Following the completion of the sale, the vice president now owns 41,428 shares of the company’s stock, valued at approximately $7,060,988.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Michael J. Watson sold 14,288 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $170.44, for a total value of $2,435,246.72. Following the completion of the sale, the vice president now owns 41,428 shares of the company’s stock, valued at approximately $7,060,988.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tara J. Hemmer sold 10,048 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $171.19, for a total value of $1,720,117.12. Following the completion of the sale, the senior vice president now directly owns 49,099 shares of the company’s stock, valued at approximately $8,405,257.81. The disclosure for this sale can be found here. Insiders sold 43,598 shares of company stock valued at $7,517,269 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.
Waste Management Trading Down 0.6 %
Shares of NYSE:WM opened at $175.76 on Thursday. Waste Management, Inc. has a 12-month low of $148.31 and a 12-month high of $179.50. The business’s fifty day simple moving average is $168.61 and its 200-day simple moving average is $164.31. The company has a market capitalization of $70.79 billion, a PE ratio of 31.11, a P/E/G ratio of 2.95 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17.
Waste Management (NYSE:WM – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The business services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.02. Waste Management had a return on equity of 34.14% and a net margin of 11.47%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same period last year, the business posted $1.56 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts predict that Waste Management, Inc. will post 5.97 earnings per share for the current fiscal year.
Waste Management Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. Waste Management’s dividend payout ratio is presently 49.56%.
Analysts Set New Price Targets
WM has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on Waste Management in a research note on Monday, November 27th. They set an “equal weight” rating and a $175.00 target price on the stock. Scotiabank cut their price target on Waste Management from $177.50 to $165.00 in a report on Tuesday, October 10th. BMO Capital Markets raised their price target on Waste Management from $160.00 to $163.00 and gave the company a “market perform” rating in a report on Thursday, October 26th. StockNews.com assumed coverage on Waste Management in a report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Raymond James cut their price target on Waste Management from $179.00 to $175.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $179.93.
About Waste Management (Free Report)
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.
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