Avantax Advisory Services Inc. raised its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,612 shares of the business services provider’s stock after purchasing an additional 5,398 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Waste Management were worth $20,166,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in WM. Hexagon Capital Partners LLC raised its stake in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 75 shares during the period. Sachetta LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at about $27,000. Gilfoyle & Co LLC acquired a new position in Waste Management during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management in the first quarter valued at approximately $35,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.
Waste Management Stock Up 2.3 %
Shares of WM stock traded up $4.94 on Tuesday, reaching $220.94. 1,948,097 shares of the company’s stock traded hands, compared to its average volume of 1,703,897. The business’s 50 day moving average price is $208.47 and its two-hundred day moving average price is $202.66. The company has a market capitalization of $88.61 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $220.96.
Waste Management Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Friday, June 7th. Waste Management’s payout ratio is presently 49.10%.
Insiders Place Their Bets
In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Analyst Upgrades and Downgrades
WM has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Morgan Stanley increased their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, TD Cowen boosted their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.39.
Waste Management 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.
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