Waste Management, Inc. $WM Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 127,900.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,840 shares of the business services provider’s stock after buying an additional 3,837 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Waste Management were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Main Street Group LTD purchased a new stake in Waste Management in the 1st quarter worth about $31,000. Balance Wealth Partners LLC purchased a new position in Waste Management during the 3rd quarter valued at about $31,000. Cape Investment Advisory Inc. purchased a new position in Waste Management during the 2nd quarter valued at about $36,000. Markowski Investments acquired a new position in shares of Waste Management in the 2nd quarter valued at about $38,000. Finally, Bogart Wealth LLC increased its holdings in shares of Waste Management by 93.5% in the 1st quarter. Bogart Wealth LLC now owns 180 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 87 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer directly owned 3,509 shares in the company, valued at approximately $771,629.10. The trade was a 28.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Waste Management Trading Up 1.5%

Waste Management stock opened at $238.26 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.82 and a quick ratio of 0.78. The company has a market capitalization of $94.74 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 3.05 and a beta of 0.38. Waste Management, Inc. has a one year low of $197.47 and a one year high of $248.13. The company’s fifty day moving average price is $218.61 and its two-hundred day moving average price is $225.41.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The company had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the firm earned $1.98 EPS. Waste Management’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Waste Management, Inc. will post 8.05 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were paid a $0.9450 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 11th. Waste Management’s dividend payout ratio (DPR) is presently 49.61%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WM shares. Morgan Stanley reduced their price target on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 13th. Raymond James Financial set a $251.00 price objective on shares of Waste Management in a research report on Thursday, October 29th. Weiss Ratings upgraded shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Wolfe Research started coverage on shares of Waste Management in a research report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Finally, Citigroup lifted their target price on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.89.

Waste Management Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.