Lake Street Advisors Group LLC Has $794,000 Stake in Waste Management, Inc. (NYSE:WM)

Lake Street Advisors Group LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 5.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,724 shares of the business services provider’s stock after purchasing an additional 199 shares during the period. Lake Street Advisors Group LLC’s holdings in Waste Management were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. ARS Wealth Advisors Group LLC increased its holdings in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. McClarren Financial Advisors Inc. grew its holdings in Waste Management by 29.7% during the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its holdings in Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX grew its holdings in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after acquiring an additional 50 shares during the period. Finally, GYL Financial Synergies LLC grew its holdings in Waste Management by 3.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after acquiring an additional 50 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on WM shares. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Robert W. Baird reduced their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada reduced their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Finally, Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Price Performance

Waste Management stock opened at $204.73 on Friday. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The company’s 50 day moving average price is $209.43 and its two-hundred day moving average price is $208.73. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a market cap of $82.11 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter last year, the business posted $1.51 EPS. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. Waste Management’s payout ratio is currently 49.10%.

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.