Foguth Wealth Management LLC. Acquires New Position in Waste Management, Inc. (NYSE:WM)

Foguth Wealth Management LLC. bought a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,515 shares of the business services provider’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Quent Capital LLC boosted its stake in Waste Management by 7.3% in the fourth quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock valued at $145,000 after acquiring an additional 55 shares in the last quarter. Drake & Associates LLC boosted its stake in Waste Management by 3.4% in the fourth quarter. Drake & Associates LLC now owns 1,652 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 55 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in Waste Management by 2.9% in the fourth quarter. Alpha Cubed Investments LLC now owns 1,973 shares of the business services provider’s stock valued at $353,000 after acquiring an additional 56 shares in the last quarter. Signal Advisors Wealth LLC boosted its stake in Waste Management by 2.2% in the first quarter. Signal Advisors Wealth LLC now owns 2,571 shares of the business services provider’s stock valued at $548,000 after acquiring an additional 56 shares in the last quarter. Finally, Peoples Financial Services CORP. boosted its stake in Waste Management by 1.7% in the fourth quarter. Peoples Financial Services CORP. now owns 3,459 shares of the business services provider’s stock valued at $620,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on WM. Raymond James raised their target price on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. 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. BMO Capital Markets lifted their price objective on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Jefferies Financial Group lifted their price objective on shares of Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management Stock Performance

WM traded up $0.67 on Friday, reaching $213.34. The stock had a trading volume of 2,908,229 shares, compared to its average volume of 1,972,412. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month 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 business’s 50-day moving average price is $208.06 and its two-hundred day moving average price is $199.85. The company has a market cap of $85.57 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.75 per share. 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 1.41%. Waste Management’s dividend payout ratio 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 dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction 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.

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.