FSA Wealth Management LLC Buys New Stake in Waste Management, Inc. (NYSE:WM)

FSA Wealth Management LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 306 shares of the business services provider’s stock, valued at approximately $64,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Aberdeen Wealth Management LLC lifted its position in Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its position in shares of Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC boosted its stake in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC grew its holdings in Waste Management by 1.9% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners increased its stake in Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after buying an additional 49 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.1 %

Waste Management stock opened at $228.22 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a one year low of $168.73 and a one year high of $230.39. The company has a 50-day simple moving average of $215.17 and a 200-day simple moving average of $210.71. The firm has a market capitalization of $91.60 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. As a group, equities analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.31%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. UBS Group raised their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.94.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.