Lake Street Private Wealth LLC Trims Stock Holdings in Waste Management, Inc. (NYSE:WM)

Lake Street Private Wealth LLC trimmed its position in Waste Management, Inc. (NYSE:WM) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,230 shares of the business services provider’s stock after selling 100 shares during the period. Lake Street Private Wealth LLC’s holdings in Waste Management were worth $262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its stake in shares of 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 acquiring an additional 2,272 shares during the last quarter. Birch Hill Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 332 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 acquiring an additional 500,701 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 acquiring an additional 22,455 shares during the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management in the fourth quarter worth $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Raymond James upped their price target on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. CIBC upped their price target on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. TD Cowen upped their price target on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Oppenheimer upped their price target on Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management Stock Up 0.3 %

NYSE WM opened at $210.20 on Friday. The stock’s 50-day moving average price is $208.10 and its 200-day moving average price is $200.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The company has a market capitalization of $84.31 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given 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 was Friday, June 7th. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.