Waste Management, Inc. (NYSE:WM) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC decreased its position in Waste Management, Inc. (NYSE:WM) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,135 shares of the business services provider’s stock after selling 1,548 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Waste Management were worth $3,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its stake 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 valued at $25,000 after acquiring an additional 75 shares in the last quarter. Sachetta LLC purchased a new stake in Waste Management in the 4th quarter worth about $27,000. Gilfoyle & Co LLC acquired a new position in Waste Management in the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in Waste Management in the 1st quarter worth about $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Waste Management in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 1.1 %

WM stock traded up $2.34 during midday trading on Monday, hitting $216.09. 747,203 shares of the company’s stock were exchanged, compared to its average volume of 1,696,391. The stock’s fifty day moving average price is $208.36 and its 200-day moving average price is $202.39. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $86.67 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $216.60.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders 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 1.39%. The ex-dividend date was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Wall Street Analyst Weigh In

WM has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James increased their target price on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a research note on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Morgan Stanley increased their target price on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.39.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is available through this link. Company 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.