Thoroughbred Financial Services LLC Increases Stake in Waste Management, Inc. (NYSE:WM)

Thoroughbred Financial Services LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 50.9% in the second quarter, Holdings Channel.com reports. The fund owned 9,373 shares of the business services provider’s stock after purchasing an additional 3,162 shares during the period. Thoroughbred Financial Services LLC’s holdings in Waste Management were worth $1,999,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in Waste Management during the 2nd quarter valued at approximately $585,000. HBK Sorce Advisory LLC grew its holdings in shares of Waste Management by 2.4% in the second quarter. HBK Sorce Advisory LLC now owns 5,618 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 131 shares in the last quarter. Federated Hermes Inc. increased its position in Waste Management by 0.9% in the second quarter. Federated Hermes Inc. now owns 47,596 shares of the business services provider’s stock worth $10,154,000 after purchasing an additional 431 shares during the last quarter. Pinkerton Retirement Specialists LLC raised its stake in Waste Management by 6.3% during the second quarter. Pinkerton Retirement Specialists LLC now owns 21,372 shares of the business services provider’s stock valued at $4,560,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in Waste Management by 41.2% during the second quarter. Meeder Advisory Services Inc. now owns 6,950 shares of the business services provider’s stock valued at $1,483,000 after purchasing an additional 2,027 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.5 %

NYSE WM opened at $208.05 on Friday. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market capitalization of $83.49 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. The company’s 50-day simple moving average is $209.24 and its two-hundred day simple moving average is $208.77.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Robert W. Baird decreased their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada dropped their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. BMO Capital Markets decreased their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Eleven 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. Based on data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

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.