Waste Management, Inc. $WM Stock Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in Waste Management, Inc. (NYSE:WM) by 7.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 233,493 shares of the business services provider’s stock after purchasing an additional 16,917 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Waste Management were worth $52,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WM. California State Teachers Retirement System lifted its position in shares of Waste Management by 26,113.1% in the second quarter. California State Teachers Retirement System now owns 121,870,338 shares of the business services provider’s stock worth $27,162,461,000 after purchasing an additional 121,405,416 shares in the last quarter. Norges Bank purchased a new stake in Waste Management in the 4th quarter worth approximately $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Waste Management during the 2nd quarter valued at $322,479,000. Corient Private Wealth LLC increased its stake in shares of Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after acquiring an additional 792,037 shares during the last quarter. Finally, Diamant Asset Management Inc. raised its holdings in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after acquiring an additional 767,615 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other Waste Management news, CAO John Carroll sold 1,365 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $219.90, for a total value of $300,163.50. Following the sale, the chief accounting officer owned 3,509 shares of the company’s stock, valued at $771,629.10. The trade was a 28.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Trading Down 0.7%

Shares of Waste Management stock opened at $216.30 on Thursday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company’s fifty day simple moving average is $228.13 and its 200-day simple moving average is $226.78. The company has a market cap of $86.46 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.75 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.945 per share. The ex-dividend date is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s payout ratio is currently 53.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WM shares. Stifel Nicolaus raised their price target on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Citigroup increased their price objective on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Canadian Imperial Bank of Commerce cut shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. UBS Group boosted their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Oppenheimer cut their price target on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Waste Management Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.