GM Advisory Group LLC Invests $312,000 in Waste Management, Inc. (NYSE:WM)

GM Advisory Group LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,462 shares of the business services provider’s stock, valued at approximately $312,000.

A number of other large investors also recently made changes to their positions in WM. 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 worth $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management during the 2nd quarter worth $31,000. Sachetta LLC bought a new position in Waste Management during the 4th quarter worth $27,000. Opal Wealth Advisors LLC bought a new position in Waste Management during the 1st quarter worth $35,000. Finally, Fairway Wealth LLC increased its stake in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research analyst reports. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. BMO Capital Markets reduced their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, Royal Bank of Canada reduced their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Stock Up 1.3 %

Shares of WM opened at $204.54 on Friday. The company has a market capitalization of $82.09 billion, a PE ratio of 33.48, a PEG ratio of 2.33 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. The stock’s 50-day moving average price is $208.73 and its two-hundred day moving average price is $208.70. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the company posted $1.51 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 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.