CRA Financial Services LLC Makes New Investment in Waste Management, Inc. (NYSE:WM)

CRA Financial Services LLC purchased a new position in Waste Management, Inc. (NYSE:WM) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,066 shares of the business services provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley boosted its position in shares of Waste Management by 0.7% during the 3rd quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after acquiring an additional 46,084 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 1.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock valued at $794,174,000 after acquiring an additional 66,816 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of Waste Management by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after acquiring an additional 16,213 shares during the last quarter. Norges Bank purchased a new stake in Waste Management during the 4th quarter valued at $784,486,000. Finally, Capital World Investors raised its holdings in Waste Management by 40.6% during the 4th quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock valued at $523,581,000 after buying an additional 844,298 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 0.3 %

Shares of WM traded up $0.67 during midday trading on Friday, reaching $213.34. 2,908,229 shares of the stock were exchanged, compared to its average volume of 1,972,412. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The company’s 50 day moving average is $208.06 and its two-hundred day moving average is $199.85. The company has a market capitalization of $85.57 billion, a P/E ratio of 34.92, a PEG ratio of 2.47 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s payout ratio is currently 49.10%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird increased their price target on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. TD Cowen increased their price target on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. BMO Capital Markets increased their target price on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada increased their target price on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.