Cornerstone Wealth Management LLC Boosts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Cornerstone Wealth Management LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,558 shares of the business services provider’s stock after purchasing an additional 114 shares during the period. Cornerstone Wealth Management LLC’s holdings in Waste Management were worth $718,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WM. Activest Wealth Management grew its holdings in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. purchased a new stake in shares of Waste Management during the 4th quarter valued at $29,000. Sugar Maple Asset Management LLC bought a new stake in shares of Waste Management during the 4th quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth about $36,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WM. Argus boosted their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target for the company. Finally, CIBC upped their price objective on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $229.72.

Waste Management Price Performance

NYSE:WM opened at $209.43 on Friday. Waste Management, Inc. has a 52-week low of $183.00 and a 52-week high of $230.39. The stock has a fifty day moving average of $212.64 and a 200 day moving average of $211.27. 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 firm has a market capitalization of $84.06 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 2.17 and a beta of 0.77.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Waste Management Company Profile

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.