New Wave Wealth Advisors LLC Makes New $70,000 Investment in Waste Management, Inc. (NYSE:WM)

New Wave Wealth Advisors LLC bought a new stake in Waste Management, Inc. (NYSE:WM) during the 4th quarter, HoldingsChannel reports. The firm bought 348 shares of the business services provider’s stock, valued at approximately $70,000.

Several other large investors also recently bought and sold shares of WM. Aberdeen Wealth Management LLC raised its position in shares of Waste Management by 1.1% in the third 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 during 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 buying an additional 46 shares in the last quarter. Benchmark Financial Wealth Advisors LLC increased its stake in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the period. Balboa Wealth Partners lifted its holdings in 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 buying an additional 49 shares in the last quarter. Finally, Werlinich Asset Management LLC boosted its holdings in Waste Management by 1.2% in the third quarter. Werlinich Asset Management LLC now owns 4,385 shares of the business services provider’s stock valued at $910,000 after purchasing an additional 50 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WM has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Waste Management from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $225.00 to $250.00 in a research note on Monday, January 27th. Jefferies Financial Group dropped their price objective on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Raymond James boosted their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, CIBC raised their price target on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $232.61.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 1.0 %

WM stock opened at $220.10 on Friday. The company has a market cap of $88.34 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The company has a fifty day moving average price of $212.28 and a 200 day moving average price of $211.36. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management, Inc. has a 12 month low of $184.72 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Sell-side analysts expect that Waste Management, Inc. will post 7.99 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 44.12%.

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.