IAM Advisory LLC Acquires Shares of 8,007 Waste Management, Inc. (NYSE:WM)

IAM Advisory LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,007 shares of the business services provider’s stock, valued at approximately $1,234,000. Waste Management makes up about 0.5% of IAM Advisory LLC’s investment portfolio, making the stock its 28th largest position.

A number of other hedge funds have also recently made changes to their positions in the business. Mizuho Securities Co. Ltd. acquired a new stake in shares of Waste Management in the 2nd quarter worth $25,000. Parisi Gray Wealth Management acquired a new stake in shares of Waste Management in the 2nd quarter worth $25,000. KB Financial Partners LLC acquired a new stake in shares of Waste Management in the 1st quarter worth $26,000. Godsey & Gibb Associates increased its stake in shares of Waste Management by 58.0% in the 2nd quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock worth $33,000 after acquiring an additional 87 shares during the last quarter. Finally, Evermay Wealth Management LLC acquired a new stake in shares of Waste Management in the 2nd quarter worth $39,000. Institutional investors own 73.84% of the company’s stock.

A number of brokerages have issued reports on WM. BMO Capital Markets raised their target price on Waste Management from $153.00 to $159.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Raymond James raised their price objective on Waste Management from $157.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Waste Management from $138.00 to $152.00 and gave the stock a “hold” rating in a research report on Thursday, July 29th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $148.00.

In other news, SVP Tara J. Hemmer sold 12,186 shares of the company’s stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $149.07, for a total transaction of $1,816,567.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Devina A. Rankin sold 33,115 shares of the company’s stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $155.18, for a total value of $5,138,785.70. Following the transaction, the chief financial officer now directly owns 53,434 shares of the company’s stock, valued at $8,291,888.12. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Shares of NYSE:WM opened at $165.72 on Thursday. The company has a market capitalization of $69.32 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.65 and a beta of 0.83. The company has a current ratio of 0.78, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $157.63 and a 200 day moving average price of $149.68. Waste Management, Inc. has a 12-month low of $109.11 and a 12-month high of $166.35.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, October 26th. The business services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.10). The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.55 billion. Waste Management had a net margin of 10.09% and a return on equity of 27.19%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, equities research analysts predict that Waste Management, Inc. will post 4.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 17th. Shareholders of record on Friday, December 3rd will be given a $0.575 dividend. This represents a $2.30 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, December 2nd. Waste Management’s dividend payout ratio is currently 55.69%.

Waste Management Company Profile

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

Further Reading: Special Dividends

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

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

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.