Kingswood Wealth Advisors LLC Has $2.42 Million Holdings in Waste Management, Inc. (NYSE:WM)

Kingswood Wealth Advisors LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,336 shares of the business services provider’s stock after selling 171 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Waste Management were worth $2,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its position in Waste Management by 8.5% in the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock valued at $4,407,000 after purchasing an additional 2,272 shares in the last quarter. Birch Hill Investment Advisors LLC raised its holdings in Waste Management by 5.5% during the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock worth $1,132,000 after acquiring an additional 332 shares in the last quarter. International Assets Investment Management LLC boosted its position in Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after purchasing an additional 500,701 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Waste Management by 93.0% during the 4th quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock worth $8,348,000 after purchasing an additional 22,455 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $38,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of Waste Management stock traded up $0.64 during midday trading on Wednesday, hitting $212.70. 1,868,995 shares of the company traded hands, compared to its average volume of 1,719,063. The stock has a market cap of $85.31 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The firm’s fifty day moving average price is $207.65 and its 200-day moving average price is $199.23. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $214.54.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio is currently 49.10%.

Insiders Place Their Bets

In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on WM. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Raymond James boosted their target price on Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. TD Cowen lifted their price objective on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Finally, CIBC upped their price target on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

About Waste Management

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.