Prime Capital Investment Advisors LLC Has $4.51 Million Stake in Waste Management, Inc. (NYSE:WM)

Prime Capital Investment Advisors LLC lowered its holdings in Waste Management, Inc. (NYSE:WM) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,121 shares of the business services provider’s stock after selling 1,517 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Waste Management were worth $4,506,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its holdings in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC bought a new position in Waste Management in the fourth quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management in the second quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management during the 1st quarter valued at about $35,000. Finally, DSM Capital Partners LLC bought a new position in shares of Waste Management in the 4th quarter valued at about $38,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM opened at $208.05 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The stock has a market capitalization of $83.45 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.33 and a beta of 0.74. The company has a 50 day moving average of $209.24 and a 200-day moving average of $208.78.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the business earned $1.51 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is 49.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. BMO Capital Markets reduced their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Oppenheimer cut their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Truist Financial decreased their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

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.