EverSource Wealth Advisors LLC Acquires 637 Shares of Waste Management, Inc. (NYSE:WM)

EverSource Wealth Advisors LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 60.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,683 shares of the business services provider’s stock after purchasing an additional 637 shares during the period. EverSource Wealth Advisors LLC’s holdings in Waste Management were worth $350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. McClarren Financial Advisors Inc. grew its position in shares of Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC grew its position in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after buying an additional 50 shares during the period. McAdam LLC grew its position in shares of Waste Management by 4.0% in the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after buying an additional 51 shares during the period. Larson Financial Group LLC grew its position in shares of Waste Management by 4.4% in the 1st quarter. Larson Financial Group LLC now owns 1,228 shares of the business services provider’s stock worth $262,000 after buying an additional 52 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Waste Management by 2.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock worth $438,000 after buying an additional 53 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In related news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, 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 can be accessed through this hyperlink. In related news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, 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 can be accessed through this hyperlink. Also, 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 sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

WM traded up $1.69 during trading hours on Friday, hitting $207.76. The company’s stock had a trading volume of 1,793,144 shares, compared to its average volume of 1,617,543. The company has a current ratio of 1.07, a quick ratio of 1.03 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. The stock has a market cap of $83.38 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 2.30 and a beta of 0.74. The business’s 50-day moving average price is $208.97 and its 200-day moving average price is $205.50.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 7.25 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WM. Raymond James upped their price target on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Oppenheimer reduced their price target on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $215.83.

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.