Jeppson Wealth Management LLC Trims Stock Position in Waste Management, Inc. (NYSE:WM)

Jeppson Wealth Management LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,902 shares of the business services provider’s stock after selling 75 shares during the period. Jeppson Wealth Management LLC’s holdings in Waste Management were worth $619,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Waste Management in the 4th quarter valued at $784,486,000. Sustainable Growth Advisers LP acquired a new position in Waste Management in the first quarter valued at $300,594,000. Capital World Investors grew its position in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares during the period. Swedbank AB purchased a new position in shares of Waste Management in the 1st quarter worth about $193,955,000. Finally, AMF Tjanstepension AB lifted its stake in shares of Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM traded down $0.03 during trading hours on Friday, hitting $208.37. 185,664 shares of the stock were exchanged, compared to its average volume of 1,662,282. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The stock has a 50-day simple moving average of $209.60 and a 200-day simple moving average of $208.66. The stock has a market cap of $83.62 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 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 business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the business posted $1.51 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on WM shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Robert W. Baird reduced their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following 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 filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company 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.