Cahaba Wealth Management Inc. Has $572,000 Stake in Waste Management, Inc. (NYSE:WM)

Cahaba Wealth Management Inc. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,681 shares of the business services provider’s stock after selling 181 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Waste Management were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter valued at approximately $31,000. Opal Wealth Advisors LLC acquired a new position in Waste Management during the first quarter valued at approximately $35,000. Finally, DSM Capital Partners LLC bought a new stake in Waste Management during the fourth quarter worth $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BMO Capital Markets lowered their price target 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 shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective for the company. CIBC decreased their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Performance

Shares of Waste Management stock opened at $204.74 on Friday. The company has a market cap of $82.12 billion, a P/E ratio of 33.51, a PEG ratio of 2.34 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The business has a 50-day moving average price of $209.43 and a two-hundred day moving average price of $208.68. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

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 issued a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.47%. Waste Management’s payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.