RBA Wealth Management LLC Increases Holdings in Waste Management, Inc. (NYSE:WM)

RBA Wealth Management LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,847 shares of the business services provider’s stock after acquiring an additional 209 shares during the quarter. Waste Management accounts for about 2.5% of RBA Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. RBA Wealth Management LLC’s holdings in Waste Management were worth $6,611,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Sustainable Growth Advisers LP purchased a new position in shares of Waste Management in the 1st quarter worth about $300,594,000. Capital World Investors boosted its holdings 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 valued at $900,957,000 after acquiring an additional 1,303,466 shares during the period. Swedbank AB purchased a new stake in Waste Management during the 1st quarter valued at about $193,955,000. Wulff Hansen & CO. boosted its holdings in Waste Management by 20,402.6% during 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 boosted its holdings in Waste Management by 85.6% during the 2nd 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 period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

NYSE:WM traded down $0.63 on Tuesday, reaching $211.19. 447,861 shares of the company’s stock traded hands, compared to its average volume of 1,615,984. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The stock has a 50-day simple moving average of $208.45 and a 200-day simple moving average of $208.49. The firm has a market cap of $84.75 billion, a PE ratio of 33.68, a P/E/G ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $153.95 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the firm posted $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. Waste Management’s payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WM shares. Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Robert W. Baird lowered their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Oppenheimer lowered their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. 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 research report on Friday, July 26th. Finally, Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management 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.