Allworth Financial LP Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

Allworth Financial LP boosted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,911 shares of the business services provider's stock after purchasing an additional 1,734 shares during the quarter. Allworth Financial LP's holdings in Waste Management were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of WM. Activest Wealth Management raised its stake in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider's stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. purchased a new position in shares of Waste Management during the fourth quarter worth approximately $29,000. Sugar Maple Asset Management LLC purchased a new position in shares of Waste Management during the fourth quarter worth approximately $35,000. Finally, Richardson Financial Services Inc. raised its stake in shares of Waste Management by 65.7% during the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider's stock worth $35,000 after acquiring an additional 69 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.5 %

Shares of WM stock traded down $1.24 during mid-day trading on Friday, reaching $227.89. 1,709,065 shares of the company's stock traded hands, compared to its average volume of 1,665,810. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $230.39. The company has a market cap of $91.47 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.71 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company's 50-day moving average price is $213.43 and its 200-day moving average price is $213.00.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. On average, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 14th. This is a boost from Waste Management's previous quarterly dividend of $0.75. Waste Management's payout ratio is 44.12%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of Waste Management from $242.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Scotiabank lifted their target price on shares of Waste Management from $250.00 to $255.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 3rd. Raymond James lifted their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Oppenheimer lifted their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group decreased their target price on shares of Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.94.

Insider Activity

In other news, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the completion of the transaction, the senior vice president now owns 9,152 shares of the company's stock, valued at $2,014,446.72. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 4,000 shares of Waste Management stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the transaction, the senior vice president now directly owns 18,531 shares of the company's stock, valued at approximately $4,185,967.59. This represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,055 shares of company stock worth $3,578,340. Corporate insiders own 0.18% of the company's stock.

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.