Envestnet Portfolio Solutions Inc. Has $12.61 Million Stock Holdings in Waste Management, Inc. $WM

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 21.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,378 shares of the business services provider’s stock after purchasing an additional 10,205 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Waste Management were worth $12,607,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of WM. Brighton Jones LLC increased its stake in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Sprott Inc. bought a new stake in Waste Management during the 1st quarter worth approximately $325,000. Sei Investments Co. increased its stake in Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after purchasing an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after purchasing an additional 148,590 shares during the period. Finally, Glenview Trust co lifted its holdings in shares of Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after purchasing an additional 162 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Wells Fargo & Company lowered their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Wolfe Research began coverage on shares of Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. TD Cowen lifted their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $250.00 price objective (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $255.67.

Insider Activity

In related news, SVP Johnson Varkey sold 121 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares of the company’s stock, valued at $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Tara J. Hemmer sold 4,818 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $241.83, for a total transaction of $1,165,136.94. Following the completion of the transaction, the senior vice president directly owned 78,918 shares of the company’s stock, valued at $19,084,739.94. This trade represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 35,296 shares of company stock worth $8,569,283. 0.18% of the stock is owned by company insiders.

Waste Management Price Performance

NYSE:WM opened at $222.10 on Wednesday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a market cap of $89.19 billion, a P/E ratio of 32.14, a P/E/G ratio of 2.33 and a beta of 0.49. The firm’s fifty day moving average price is $228.26 and its two-hundred day moving average price is $223.29. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.67 earnings per share. Equities analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a dividend of $0.945 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio is currently 54.70%.

Waste Management Company 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.