Fi3 FINANCIAL ADVISORS LLC Acquires New Stake in Waste Management, Inc. (NYSE:WM)

Fi3 FINANCIAL ADVISORS LLC bought a new position in Waste Management, Inc. (NYSE:WM) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 1,249 shares of the business services provider’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Gilfoyle & Co LLC purchased a new position in Waste Management in the fourth quarter worth $30,000. Millburn Ridgefield Corp bought a new position in shares of Waste Management during the 3rd quarter valued at about $35,000. Rational Advisors LLC purchased a new position in shares of Waste Management during the 3rd quarter valued at about $41,000. Annapolis Financial Services LLC lifted its position in Waste Management by 40.1% in the 3rd quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock worth $50,000 after buying an additional 93 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Waste Management in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other news, CFO Devina A. Rankin sold 775 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the sale, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at $14,934,010.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. CIBC lifted their price target on shares of Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $190.00 to $205.00 in a research note on Wednesday, February 14th. JPMorgan Chase & Co. raised their price objective on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Raymond James boosted 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. Finally, Truist Financial raised their price target on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $216.24.

Waste Management Stock Up 0.3 %

Waste Management stock traded up $0.72 during trading hours on Friday, hitting $207.88. 2,237,956 shares of the stock traded hands, compared to its average volume of 1,702,229. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The company has a market cap of $83.38 billion, a PE ratio of 34.02, a PEG ratio of 2.70 and a beta of 0.72. The firm’s 50-day moving average price is $208.92 and its two-hundred day moving average price is $188.64.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.26 EPS for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.75 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. This is an increase from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is presently 49.10%.

Waste Management 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.