Chicago Partners Investment Group LLC Decreases Holdings in Waste Management, Inc. (NYSE:WM)


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Chicago Partners Investment Group LLC reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.1% in the first quarter, Holdings Channel reports. The firm owned 8,039 shares of the business services provider’s stock after selling 255 shares during the period. Chicago Partners Investment Group LLC’s holdings in Waste Management were worth $1,077,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Miramar Capital LLC grew its stake in Waste Management by 0.5% in the first quarter. Miramar Capital LLC now owns 54,534 shares of the business services provider’s stock worth $7,036,000 after purchasing an additional 266 shares in the last quarter. Venture Visionary Partners LLC grew its position in shares of Waste Management by 89.3% during the 1st quarter. Venture Visionary Partners LLC now owns 5,510 shares of the business services provider’s stock worth $710,000 after buying an additional 2,600 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Waste Management by 7.2% during the first quarter. Janney Montgomery Scott LLC now owns 267,518 shares of the business services provider’s stock valued at $34,515,000 after buying an additional 17,926 shares during the period. Clarius Group LLC raised its holdings in shares of Waste Management by 9.6% in the first quarter. Clarius Group LLC now owns 2,790 shares of the business services provider’s stock valued at $360,000 after acquiring an additional 244 shares in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in Waste Management in the first quarter worth about $203,000. 71.42% of the stock is currently owned by institutional investors.

Shares of WM stock opened at $140.34 on Tuesday. The stock has a market cap of $59.24 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 4.70 and a beta of 0.72. Waste Management, Inc. has a 52-week low of $94.13 and a 52-week high of $140.68. The business has a 50-day simple moving average of $130.89 and a 200-day simple moving average of $119.70. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.39.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.02 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. Waste Management’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 3.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were issued a $0.575 dividend. This is a boost from Waste Management’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $2.30 dividend on an annualized basis and a yield of 1.64%. Waste Management’s payout ratio is presently 52.27%.

In related news, CAO Leslie K. Nagy sold 392 shares of Waste Management stock in a transaction on Friday, February 19th. The shares were sold at an average price of $111.33, for a total value of $43,641.36. Following the sale, the chief accounting officer now owns 4,891 shares of the company’s stock, valued at approximately $544,515.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 17,603 shares of the firm’s stock in a transaction that occurred on Thursday, March 4th. The shares were sold at an average price of $115.00, for a total value of $2,024,345.00. Following the completion of the transaction, the chief financial officer now owns 25,473 shares in the company, valued at approximately $2,929,395. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,382 shares of company stock valued at $3,731,129. Insiders own 0.16% of the company’s stock.

Several brokerages have recently weighed in on WM. Royal Bank of Canada upped their price target on shares of Waste Management from $122.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 28th. They noted that the move was a valuation call. Raymond James upped their target price on Waste Management from $144.00 to $147.00 and gave the stock an “outperform” rating in a report on Wednesday, April 28th. Oppenheimer lifted their price target on Waste Management from $146.00 to $148.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. The Goldman Sachs Group started coverage on Waste Management in a research report on Tuesday, April 13th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, BMO Capital Markets upped their price target on Waste Management from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Hold” and an average target price of $129.77.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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