Rainier Group Investment Advisory LLC Takes $135,000 Position in Waste Management, Inc. (WM)

Rainier Group Investment Advisory LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, Holdings Channel reports. The firm acquired 1,600 shares of the business services provider’s stock, valued at approximately $135,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC grew its stake in Waste Management by 6.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 9,421 shares of the business services provider’s stock valued at $792,000 after buying an additional 607 shares during the last quarter. Johanson Financial Advisors Inc. grew its position in shares of Waste Management by 16.2% during the 1st quarter. Johanson Financial Advisors Inc. now owns 4,748 shares of the business services provider’s stock worth $400,000 after purchasing an additional 663 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Waste Management by 10.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,093 shares of the business services provider’s stock worth $597,000 after purchasing an additional 685 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of Waste Management by 12.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 6,338 shares of the business services provider’s stock worth $518,000 after purchasing an additional 690 shares in the last quarter. Finally, Pettee Investors Inc. grew its position in shares of Waste Management by 4.1% during the 1st quarter. Pettee Investors Inc. now owns 17,856 shares of the business services provider’s stock worth $1,502,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 75.12% of the company’s stock.

A number of brokerages have issued reports on WM. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, April 13th. UBS Group began coverage on shares of Waste Management in a research report on Wednesday, March 14th. They set a “neutral” rating and a $93.00 target price on the stock. BMO Capital Markets decreased their target price on shares of Waste Management from $97.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 20th. Finally, Raymond James upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price on the stock in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.89.

Shares of Waste Management traded up $0.12, reaching $83.24, on Thursday, Marketbeat reports. 16,615 shares of the stock were exchanged, compared to its average volume of 2,281,194. Waste Management, Inc. has a one year low of $72.58 and a one year high of $89.73. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. The company has a market cap of $36.04 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Friday, April 20th. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.09. Waste Management had a net margin of 14.06% and a return on equity of 26.73%. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. research analysts forecast that Waste Management, Inc. will post 4.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 57.76%.

In related news, SVP Barry H. Caldwell sold 10,844 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $84.00, for a total value of $910,896.00. Following the completion of the transaction, the senior vice president now owns 31,447 shares of the company’s stock, valued at approximately $2,641,548. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Nikolaj H. Sjoqvist sold 307 shares of the stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $84.76, for a total transaction of $26,021.32. Following the completion of the transaction, the senior vice president now directly owns 18,756 shares of the company’s stock, valued at approximately $1,589,758.56. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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