Newbridge Financial Services Group Inc. Acquires 1,943 Shares of Waste Management, Inc. (NYSE:WM)

Newbridge Financial Services Group Inc. lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 333.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,526 shares of the business services provider’s stock after purchasing an additional 1,943 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Waste Management were worth $539,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC lifted its stake in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management in the 1st quarter worth about $35,000. Fairway Wealth LLC raised its stake in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the second quarter valued at about $36,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird dropped their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, CIBC reduced their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated 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 directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Performance

NYSE WM opened at $207.92 on Wednesday. The firm has a market cap of $83.44 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.30 and a beta of 0.74. The company has a 50-day simple moving average of $206.54 and a two-hundred day simple moving average of $208.58. 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, Inc. has a 12-month low of $149.71 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted 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 return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the company earned $1.51 EPS. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is currently 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.