Beacon Investment Advisory Services Inc. Boosts Holdings in Waste Management, Inc. $WM

Beacon Investment Advisory Services Inc. grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 38.1% during the third quarter, HoldingsChannel reports. The firm owned 37,971 shares of the business services provider’s stock after purchasing an additional 10,483 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Waste Management were worth $8,385,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Saudi Central Bank bought a new stake in Waste Management during the 1st quarter valued at approximately $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management in the 1st quarter valued at approximately $38,000. Loomis Sayles & Co. L P purchased a new stake in Waste Management in the second quarter worth $40,000. Wealth Watch Advisors INC bought a new position in Waste Management in the second quarter worth $43,000. Finally, eCIO Inc. purchased a new position in Waste Management during the first quarter valued at $53,000. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Down 0.1%

Shares of NYSE:WM opened at $221.03 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The company has a market cap of $89.05 billion, a P/E ratio of 34.81, a PEG ratio of 2.73 and a beta of 0.58. The stock’s fifty day moving average price is $211.78 and its 200-day moving average price is $220.64.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s payout ratio is presently 51.97%.

Insider Transactions at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Citigroup upped their price target on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company started coverage on Waste Management in a research note on Friday, November 14th. They set an “overweight” rating and a $238.00 price objective for the company. Erste Group Bank cut Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. raised their price target on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.95.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.