MBB Public Markets I LLC Purchases 27,375 Shares of Waste Management, Inc. (NYSE:WM)

MBB Public Markets I LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 1,798.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,897 shares of the business services provider’s stock after buying an additional 27,375 shares during the quarter. MBB Public Markets I LLC’s holdings in Waste Management were worth $6,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of WM. Daymark Wealth Partners LLC raised its position in shares of Waste Management by 21.6% in the second quarter. Daymark Wealth Partners LLC now owns 5,556 shares of the business services provider’s stock valued at $1,185,000 after buying an additional 988 shares in the last quarter. Employees Retirement System of Texas raised its holdings in Waste Management by 5.1% in the 2nd quarter. Employees Retirement System of Texas now owns 292,153 shares of the business services provider’s stock valued at $62,328,000 after acquiring an additional 14,153 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after acquiring an additional 12,664 shares during the period. APG Asset Management N.V. increased its position in shares of Waste Management by 1.9% in the second quarter. APG Asset Management N.V. now owns 1,192,125 shares of the business services provider’s stock worth $237,302,000 after purchasing an additional 22,138 shares during the period. Finally, AQR Capital Management LLC raised its stake in Waste Management by 0.8% in the second quarter. AQR Capital Management LLC now owns 460,102 shares of the business services provider’s stock valued at $97,671,000 after purchasing an additional 3,575 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was 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 directly 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 accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on WM. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. BMO Capital Markets dropped their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Finally, Oppenheimer lowered their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Up 0.1 %

Shares of NYSE:WM opened at $205.51 on Friday. The business has a fifty day simple moving average of $207.07 and a 200 day simple moving average of $208.64. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00. The firm has a market cap of $82.48 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.32 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

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

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

Waste Management 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.