TCI Wealth Advisors Inc. Takes $202,000 Position in Waste Management, Inc. (NYSE:WM)

TCI Wealth Advisors Inc. purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 950 shares of the business services provider’s stock, valued at approximately $202,000.

Several other large investors have also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its stake in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Sachetta LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at $35,000. Gilfoyle & Co LLC purchased a new stake in Waste Management during the fourth quarter worth $30,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Waste Management during the fourth quarter worth $36,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Raymond James increased their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a report on Friday, April 26th. BMO Capital Markets increased their price objective on shares of Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven investment 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 company’s stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $217.39.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction 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 in the company, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 1.0 %

WM stock traded up $2.22 during midday trading on Monday, reaching $215.97. 338,903 shares of the company were exchanged, compared to its average volume of 1,693,260. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $216.30. The stock’s 50-day simple moving average is $208.36 and its 200 day simple moving average is $202.39. The company has a market cap of $86.62 billion, a price-to-earnings ratio of 35.30, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data 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 company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $1.31 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.39%. Waste Management’s payout ratio is 49.10%.

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.