SevenBridge Financial Group LLC Purchases New Stake in Waste Management, Inc. (NYSE:WM)

SevenBridge Financial Group LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 962 shares of the business services provider’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Aberdeen Wealth Management LLC grew its holdings in Waste Management by 1.1% in the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its stake in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC increased its position 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 acquiring an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its holdings in Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners grew its position in shares of Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WM shares. Oppenheimer boosted their price target on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. William Blair assumed coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. UBS Group raised their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Argus upped their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Trading Up 1.3 %

Shares of WM stock opened at $224.41 on Monday. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84. The stock’s fifty day simple moving average is $212.84 and its 200 day simple moving average is $210.10. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $90.07 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is presently 45.87%.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management 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.