Kingsview Wealth Management LLC Raises Stock Position in Waste Management, Inc. (NYSE:WM)

Kingsview Wealth Management LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,992 shares of the business services provider’s stock after purchasing an additional 696 shares during the period. Kingsview Wealth Management LLC’s holdings in Waste Management were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Cerity Partners LLC grew its holdings in Waste Management by 10.2% during the 3rd quarter. Cerity Partners LLC now owns 213,850 shares of the business services provider’s stock valued at $44,395,000 after purchasing an additional 19,754 shares during the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of Waste Management by 1.1% during the third quarter. Great Valley Advisor Group Inc. now owns 9,413 shares of the business services provider’s stock valued at $1,954,000 after acquiring an additional 105 shares in the last quarter. GenTrust LLC purchased a new stake in shares of Waste Management in the 3rd quarter worth $228,000. Nwam LLC raised its holdings in shares of Waste Management by 21.4% in the 3rd quarter. Nwam LLC now owns 4,466 shares of the business services provider’s stock valued at $927,000 after purchasing an additional 786 shares in the last quarter. Finally, GM Advisory Group LLC lifted its holdings in Waste Management by 31.7% during the third quarter. GM Advisory Group LLC now owns 1,925 shares of the business services provider’s stock worth $400,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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 has a market cap of $90.07 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74. The company’s 50-day moving average price is $212.84 and its 200-day moving average price is $210.10. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

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

Waste Management Announces Dividend

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

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Argus upped their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group lifted 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. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, CIBC upped their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.11.

About Waste Management

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.