Oakmont Investment Advisors Inc. Purchases New Shares in Waste Management, Inc. $WM

Oakmont Investment Advisors Inc. purchased a new position in Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,004 shares of the business services provider’s stock, valued at approximately $1,115,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Waste Management during the 4th quarter valued at about $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Waste Management in the second quarter worth about $322,479,000. Corient Private Wealth LLC lifted its stake in Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. boosted its position in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after buying an additional 767,615 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after buying an additional 660,776 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered Waste Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their target price on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. UBS Group boosted their target price on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Barclays raised their price target on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Stock Performance

Shares of Waste Management stock opened at $218.90 on Friday. The firm has a market cap of $87.50 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.80 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The stock’s fifty day moving average price is $228.48 and its 200-day moving average price is $227.17.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.945 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s payout ratio is currently 53.54%.

About Waste Management

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.