Mainstay Capital Management LLC ADV Has $1.92 Million Stock Holdings in Waste Management, Inc. $WM

Mainstay Capital Management LLC ADV reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 49.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,678 shares of the business services provider’s stock after selling 8,432 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Waste Management were worth $1,916,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Severin Investments LLC raised its holdings in shares of Waste Management by 6.1% in the 3rd quarter. Severin Investments LLC now owns 1,907 shares of the business services provider’s stock worth $421,000 after buying an additional 109 shares in the last quarter. Allworth Financial LP boosted its stake in Waste Management by 3.9% in the 3rd quarter. Allworth Financial LP now owns 21,746 shares of the business services provider’s stock valued at $4,802,000 after buying an additional 814 shares in the last quarter. IFP Advisors Inc grew its position in Waste Management by 2.6% in the third quarter. IFP Advisors Inc now owns 10,080 shares of the business services provider’s stock valued at $2,388,000 after acquiring an additional 252 shares during the period. Stillwater Wealth Management Group acquired a new position in Waste Management during the third quarter worth $3,693,000. Finally, ARQ Wealth Advisors LLC bought a new position in shares of Waste Management during the third quarter valued at $700,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.9%

Shares of NYSE WM opened at $233.92 on Thursday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The firm’s 50-day simple moving average is $230.86 and its 200 day simple moving average is $220.56. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $94.35 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same quarter in the previous year, the business posted $1.70 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $0.945 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s dividend payout ratio (DPR) is 56.42%.

Insider Transactions at Waste Management

In other news, COO John J. Morris sold 7,979 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the completion of the sale, the chief operating officer owned 98,656 shares in the company, valued at $24,177,625.92. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rafael Carrasco sold 7,352 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $234.50, for a total value of $1,724,044.00. Following the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,644,130. This trade represents a 32.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock worth $23,039,777 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

WM has been the topic of several analyst reports. Sanford C. Bernstein upped their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. DZ Bank initiated coverage on shares of Waste Management in a report on Tuesday, November 25th. They set a “buy” rating and a $250.00 price target for the company. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Citigroup dropped their price objective on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, The Goldman Sachs Group began coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.59.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.