Fairhaven Wealth Management LLC Sells 428 Shares of Waste Management, Inc. (NYSE:WM)

Fairhaven Wealth Management LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 29.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,027 shares of the business services provider’s stock after selling 428 shares during the period. Fairhaven Wealth Management LLC’s holdings in Waste Management were worth $219,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Sachetta LLC acquired a new stake in Waste Management in the fourth quarter valued at $27,000. Gilfoyle & Co LLC acquired a new stake in Waste Management in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management in the first quarter valued at $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Waste Management in the fourth quarter valued at $36,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.1 %

WM traded up $0.13 during trading on Friday, reaching $210.33. 1,647,629 shares of the company’s stock were exchanged, compared to its average volume of 1,542,620. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $84.36 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74. The firm has a fifty day moving average price of $208.06 and a two-hundred day moving average price of $200.84.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on WM. CIBC raised their target price on shares of Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Morgan Stanley raised their target price on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Robert W. Baird raised their target price on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Finally, Oppenheimer lifted their price objective on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

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.