Marcum Wealth LLC Sells 389 Shares of Waste Management, Inc. (NYSE:WM)

Marcum Wealth LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 18.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,697 shares of the business services provider’s stock after selling 389 shares during the period. Marcum Wealth LLC’s holdings in Waste Management were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WM. Norges Bank bought a new position in shares of Waste Management in the fourth quarter worth approximately $784,486,000. Mirova US LLC boosted its stake in Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after purchasing an additional 910,418 shares during the last quarter. Capital World Investors increased its holdings in shares of Waste Management by 40.6% in the 4th quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock worth $523,581,000 after purchasing an additional 844,298 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Waste Management by 128.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock worth $137,012,000 after purchasing an additional 504,924 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after purchasing an additional 500,701 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WM shares. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 target price for the company. Raymond James raised their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. CIBC increased their price target on Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Finally, Morgan Stanley boosted their price target on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $217.61.

Waste Management Trading Up 0.1 %

WM opened at $208.99 on Friday. The stock’s 50 day moving average price is $207.37 and its 200-day moving average price is $198.50. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $83.82 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 2.43 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, equities analysts forecast that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.