Cary Street Partners Financial LLC Purchases 7,358 Shares of Waste Management, Inc. $WM

Cary Street Partners Financial LLC lifted its holdings in Waste Management, Inc. (NYSE:WM) by 52.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,283 shares of the business services provider’s stock after purchasing an additional 7,358 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Waste Management were worth $4,870,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Saudi Central Bank bought a new position in shares of Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management during the first quarter worth $38,000. Loomis Sayles & Co. L P bought a new stake in shares of Waste Management in the 2nd quarter valued at about $40,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management in the second quarter valued at approximately $43,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Waste Management during the 1st quarter valued at $45,000. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Waste Management from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 1st. Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Royal Bank Of Canada decreased their price target on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. CIBC lowered their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, December 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $249.14.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.3%

Shares of NYSE:WM opened at $213.61 on Monday. The business’s 50 day simple moving average is $212.08 and its two-hundred day simple moving average is $222.62. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The firm has a market cap of $86.06 billion, a P/E ratio of 33.64, a PEG ratio of 2.64 and a beta of 0.58.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the firm posted $1.96 EPS. Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

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.