Rockline Wealth Management LLC Has $5.57 Million Stake in Waste Management, Inc. (NYSE:WM)

Rockline Wealth Management LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 1.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 24,039 shares of the business services provider’s stock after purchasing an additional 347 shares during the period. Waste Management accounts for 1.5% of Rockline Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Rockline Wealth Management LLC’s holdings in Waste Management were worth $5,565,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Covea Finance increased its holdings in Waste Management by 27.0% during the first quarter. Covea Finance now owns 275,133 shares of the business services provider’s stock worth $63,696,000 after buying an additional 58,548 shares during the last quarter. Advisor Resource Council acquired a new position in Waste Management during the first quarter worth $384,000. Segment Wealth Management LLC increased its holdings in Waste Management by 5.6% during the first quarter. Segment Wealth Management LLC now owns 5,900 shares of the business services provider’s stock worth $1,366,000 after buying an additional 313 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in Waste Management by 15.4% during the first quarter. Spirit of America Management Corp NY now owns 1,500 shares of the business services provider’s stock worth $347,000 after buying an additional 200 shares during the last quarter. Finally, Alta Capital Management LLC boosted its position in Waste Management by 1,486.7% during the first quarter. Alta Capital Management LLC now owns 39,573 shares of the business services provider’s stock worth $9,162,000 after purchasing an additional 37,079 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 0.5%

WM stock opened at $231.94 on Friday. The company has a market cap of $93.34 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. The business has a 50-day simple moving average of $233.07 and a 200 day simple moving average of $224.05. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $242.58. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. Waste Management’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, June 6th. Waste Management’s dividend payout ratio (DPR) is presently 49.77%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WM. Seaport Res Ptn raised shares of Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a research report on Monday, June 9th. Scotiabank lifted their price objective on shares of Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 8th. Citigroup lifted their price objective on shares of Waste Management from $260.00 to $271.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.00.

Insider Activity at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president now owns 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Waste Management Company Profile

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.