Waste Management, Inc. (NYSE:WM) is Providence Wealth Advisors LLC’s 8th Largest Position

Providence Wealth Advisors LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,427 shares of the business services provider’s stock after buying an additional 75 shares during the period. Waste Management makes up 2.8% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Providence Wealth Advisors LLC’s holdings in Waste Management were worth $3,893,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Activest Wealth Management boosted its holdings in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the 2nd quarter valued at $31,000. Fairway Wealth LLC boosted its holdings in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Waste Management during the 2nd quarter worth $36,000. Finally, Fairscale Capital LLC bought a new stake in shares of Waste Management during the 2nd quarter worth $39,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WM. Morgan Stanley lifted their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. CIBC lifted their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $228.94.

Waste Management Price Performance

Shares of NYSE WM opened at $228.46 on Friday. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company’s 50-day moving average is $214.69 and its 200 day moving average is $210.57. The stock has a market capitalization of $91.70 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.40 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.