Balboa Wealth Partners Buys 49 Shares of Waste Management, Inc. (NYSE:WM)

Balboa Wealth Partners raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 4.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,233 shares of the business services provider’s stock after purchasing an additional 49 shares during the period. Balboa Wealth Partners’ holdings in Waste Management were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WM. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the 2nd quarter valued at about $31,000. Fairway Wealth LLC raised its stake in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new stake in shares of Waste Management in the 2nd quarter valued at $39,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Morgan Stanley boosted their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. CIBC boosted their target price on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Down 1.7 %

Shares of NYSE:WM opened at $217.89 on Friday. The firm has a market capitalization of $87.45 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.38 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a 50 day moving average price of $211.34 and a 200-day moving average price of $209.63. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.84.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is currently 45.87%.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.