Broadway Wealth Solutions Inc. Makes New $315,000 Investment in Waste Management, Inc. (NYSE:WM)

Broadway Wealth Solutions Inc. purchased a new stake in Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,563 shares of the business services provider’s stock, valued at approximately $315,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Waste Management in the 4th quarter worth about $1,009,726,000. Blair William & Co. IL lifted its position in shares of Waste Management by 69.8% in the fourth quarter. Blair William & Co. IL now owns 103,824 shares of the business services provider’s stock worth $20,951,000 after purchasing an additional 42,684 shares in the last quarter. Providence Wealth Advisors LLC grew its position in Waste Management by 0.3% during the fourth quarter. Providence Wealth Advisors LLC now owns 18,476 shares of the business services provider’s stock valued at $3,720,000 after purchasing an additional 49 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at approximately $344,000. Finally, NEOS Investment Management LLC lifted its position in Waste Management by 30.9% in the 4th quarter. NEOS Investment Management LLC now owns 21,060 shares of the business services provider’s stock worth $4,250,000 after buying an additional 4,976 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.1 %

NYSE WM opened at $229.16 on Friday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The firm has a market cap of $92.15 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The stock’s 50 day simple moving average is $224.25 and its 200 day simple moving average is $216.37. Waste Management, Inc. has a one year low of $196.59 and a one year high of $235.81.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is presently 48.53%.

Analysts Set New Price Targets

WM has been the topic of a number of research reports. Stifel Nicolaus upped their price target on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. CIBC lifted their price objective on Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Morgan Stanley lifted their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Raymond James increased their price objective on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $236.65.

Insider Buying and Selling at Waste Management

In other Waste Management news, EVP John J. Morris sold 19,153 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the sale, the executive vice president now directly owns 85,257 shares in the company, valued at approximately $19,158,100.47. This trade represents a 18.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO John A. Carroll sold 209 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at $1,999,506.30. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by insiders.

Waste Management Company 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.