Miracle Mile Advisors LLC Has $4.09 Million Position in Waste Management, Inc. (NYSE:WM)

Miracle Mile Advisors LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,190 shares of the business services provider’s stock after buying an additional 95 shares during the period. Miracle Mile Advisors LLC’s holdings in Waste Management were worth $4,090,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC raised its holdings in Waste Management by 8.5% in the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock worth $4,407,000 after purchasing an additional 2,272 shares during the period. Birch Hill Investment Advisors LLC raised its holdings in Waste Management by 5.5% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock worth $1,132,000 after purchasing an additional 332 shares during the period. International Assets Investment Management LLC raised its holdings in Waste Management by 13,927.7% in the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after purchasing an additional 500,701 shares during the period. Pacer Advisors Inc. raised its holdings in Waste Management by 93.0% in the fourth quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock worth $8,348,000 after purchasing an additional 22,455 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Waste Management Trading Down 1.9 %

Shares of Waste Management stock opened at $209.36 on Tuesday. The firm has a market capitalization of $83.97 billion, a PE ratio of 34.27, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The firm’s 50 day moving average is $208.06 and its 200 day moving average is $200.00. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WM shares. TD Cowen raised their target price on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Truist Financial raised their target price on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. CIBC lifted their price objective 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. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $217.61.

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.