Beacon Financial Group Sells 643 Shares of Waste Management, Inc. (NYSE:WM)

Beacon Financial Group lessened its holdings in Waste Management, Inc. (NYSE:WM) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,132 shares of the business services provider’s stock after selling 643 shares during the quarter. Beacon Financial Group’s holdings in Waste Management were worth $5,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Activest Wealth Management lifted its position in shares of Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Global Wealth Strategies & Associates raised its stake in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in Waste Management during the fourth quarter worth about $29,000. Sugar Maple Asset Management LLC acquired a new position in shares of Waste Management in the 4th quarter valued at approximately $35,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $35,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Up 0.3 %

WM stock opened at $226.78 on Wednesday. Waste Management, Inc. has a fifty-two week low of $187.48 and a fifty-two week high of $230.39. The stock’s 50 day simple moving average is $211.85 and its 200 day simple moving average is $211.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $91.02 billion, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

Waste Management (NYSE:WM) last released its quarterly earnings results 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 net margin of 12.45% and a return on equity of 38.88%. On average, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

Insiders Place Their Bets

In related news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald J. Smith sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the sale, the vice president now directly owns 6,129 shares in the company, valued at approximately $1,349,728.38. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,055 shares of company stock valued at $3,578,340. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank upped their target price on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group lowered their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. CIBC raised their price objective on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Citigroup raised their price objective on shares of Waste Management from $242.00 to $255.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James boosted their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.50.

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.