RDA Financial Network Increases Stake in Waste Management, Inc. (NYSE:WM)

RDA Financial Network grew its position in shares of Waste Management, Inc. (NYSE:WM) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,759 shares of the business services provider’s stock after purchasing an additional 224 shares during the quarter. RDA Financial Network’s holdings in Waste Management were worth $1,196,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC grew its position in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management in the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Waste Management during the 1st quarter worth approximately $35,000. Fairway Wealth LLC lifted its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management in the 2nd quarter valued at $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE WM traded up $0.56 on Tuesday, reaching $214.06. The stock had a trading volume of 777,119 shares, compared to its average volume of 1,635,151. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a market cap of $85.86 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The business’s 50-day moving average price is $207.60 and its 200 day moving average price is $208.42. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the company earned $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is currently 49.10%.

Analysts Set New Price Targets

Several research firms have issued reports on WM. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer decreased their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Robert W. Baird cut their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

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.