Axxcess Wealth Management LLC Buys 439 Shares of Waste Management, Inc. (NYSE:WM)

Axxcess Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,820 shares of the business services provider’s stock after buying an additional 439 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Waste Management were worth $3,162,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WM. Sustainable Growth Advisers LP acquired a new stake in shares of Waste Management during the first quarter valued at about $300,594,000. Capital World Investors boosted its position in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB bought a new stake in Waste Management during the 1st quarter worth approximately $193,955,000. Wulff Hansen & CO. increased its position in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after acquiring an additional 863,846 shares during the period. Finally, AMF Tjanstepension AB raised its stake in shares of Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after acquiring an additional 720,358 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $203.14 on Wednesday. The business has a 50-day simple moving average of $209.06 and a 200 day simple moving average of $208.78. The firm has a market capitalization of $81.48 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the firm posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WM. BMO Capital Markets decreased their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Oppenheimer cut their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Finally, Truist Financial dropped their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.