Prime Capital Investment Advisors LLC Sells 1,517 Shares of Waste Management, Inc. (NYSE:WM)

Prime Capital Investment Advisors LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,121 shares of the business services provider’s stock after selling 1,517 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Waste Management were worth $4,506,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WM. ARS Wealth Advisors Group LLC boosted its holdings in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after purchasing an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. raised its position in Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares during the period. Mayflower Financial Advisors LLC raised its position in Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX raised its position in Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after acquiring an additional 50 shares during the period. Finally, GYL Financial Synergies LLC raised its position in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after acquiring an additional 50 shares during the period. 80.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WM. Truist Financial lowered their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. BMO Capital Markets lowered their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Finally, Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Performance

Waste Management stock opened at $208.05 on Monday. The firm’s 50 day simple moving average is $209.24 and its 200 day simple moving average is $208.78. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $83.45 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the company earned $1.51 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is presently 49.10%.

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.