FSA Wealth Management LLC Purchases Shares of 306 Waste Management, Inc. (NYSE:WM)

FSA Wealth Management LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 306 shares of the business services provider’s stock, valued at approximately $64,000.

A number of other hedge funds have also modified their holdings of WM. Erste Asset Management GmbH acquired a new stake in shares of Waste Management during the third quarter valued at approximately $16,245,000. Caisse DE Depot ET Placement DU Quebec grew its position in Waste Management by 54.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 83,599 shares of the business services provider’s stock worth $17,355,000 after purchasing an additional 29,315 shares in the last quarter. Providence Wealth Advisors LLC raised its stake in Waste Management by 0.4% during the 3rd quarter. Providence Wealth Advisors LLC now owns 18,427 shares of the business services provider’s stock valued at $3,893,000 after purchasing an additional 75 shares during the period. Peterson Wealth Management boosted its position in shares of Waste Management by 29.8% in the third quarter. Peterson Wealth Management now owns 3,987 shares of the business services provider’s stock worth $828,000 after buying an additional 915 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Waste Management by 0.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 246,556 shares of the business services provider’s stock valued at $51,185,000 after buying an additional 1,684 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 0.1 %

NYSE:WM opened at $228.22 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company’s 50 day moving average is $215.17 and its 200-day moving average is $210.71. The firm has a market cap of $91.60 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74. Waste Management, Inc. has a 12 month low of $168.73 and a 12 month high of $230.39.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

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

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WM shares. BMO Capital Markets increased their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Argus increased their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Sunday. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $228.94.

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.