Broadway Wealth Solutions Inc. Makes New $315,000 Investment in Waste Management, Inc. (NYSE:WM)

Broadway Wealth Solutions Inc. bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,563 shares of the business services provider's stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Waste Management in the 4th quarter valued at $1,009,726,000. Raymond James Financial Inc. purchased a new position in Waste Management in the fourth quarter valued at about $340,611,000. Parnassus Investments LLC lifted its stake in shares of Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock worth $1,265,629,000 after purchasing an additional 1,151,237 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Waste Management by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after buying an additional 538,567 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Waste Management by 138.0% during the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider's stock valued at $149,168,000 after buying an additional 416,579 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WM has been the subject of several recent research reports. Scotiabank increased their price objective on shares of Waste Management from $250.00 to $255.00 and gave the company a "sector outperform" rating in a research report on Monday, February 3rd. CIBC raised their price target on shares of Waste Management from $227.00 to $247.00 and gave the company a "neutral" rating in a report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Friday, January 31st. Oppenheimer raised their target price on Waste Management from $231.00 to $237.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Morgan Stanley increased their price target on Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $236.65.

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Waste Management Stock Performance

NYSE WM traded up $1.50 during trading hours on Tuesday, hitting $233.01. The company had a trading volume of 483,827 shares, compared to its average volume of 1,613,011. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The business has a fifty day simple moving average of $224.97 and a 200-day simple moving average of $216.79. The firm has a market cap of $93.70 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $235.81.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.825 per share. This is a boost from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. This represents a $3.30 annualized dividend and a yield of 1.42%. Waste Management's dividend payout ratio (DPR) is presently 48.53%.

Insiders Place Their Bets

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the sale, the senior vice president now directly owns 58,765 shares in the company, valued at approximately $13,052,881.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John A. Carroll sold 1,251 shares of Waste Management stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $225.92, for a total transaction of $282,625.92. Following the completion of the transaction, the chief accounting officer now directly owns 8,420 shares in the company, valued at $1,902,246.40. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,577 shares of company stock worth $21,662,464. 0.18% of the stock is owned by corporate insiders.

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.