Powers Advisory Group LLC Sells 189 Shares of Waste Management, Inc. (NYSE:WM)

by · The Cerbat Gem

Powers Advisory Group LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,970 shares of the business services provider’s stock after selling 189 shares during the period. Waste Management accounts for approximately 0.9% of Powers Advisory Group LLC’s holdings, making the stock its 24th largest holding. Powers Advisory Group LLC’s holdings in Waste Management were worth $1,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WM. Steel Peak Wealth Management LLC increased its stake in shares of Waste Management by 4.7% in the 2nd quarter. Steel Peak Wealth Management LLC now owns 3,858 shares of the business services provider’s stock valued at $669,000 after buying an additional 173 shares during the period. American National Bank lifted its holdings in shares of Waste Management by 1,459.9% in the second quarter. American National Bank now owns 2,137 shares of the business services provider’s stock valued at $371,000 after purchasing an additional 2,000 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Waste Management by 51.0% in the second quarter. Jefferies Financial Group Inc. now owns 43,400 shares of the business services provider’s stock valued at $7,526,000 after purchasing an additional 14,664 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Waste Management by 1.9% in the second quarter. WASHINGTON TRUST Co now owns 55,488 shares of the business services provider’s stock valued at $9,623,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new stake in shares of Waste Management in the second quarter valued at about $208,000. 78.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 14,288 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $170.44, for a total transaction of $2,435,246.72. Following the transaction, the vice president now owns 41,428 shares of the company’s stock, valued at approximately $7,060,988.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Tara J. Hemmer sold 10,048 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $171.19, for a total value of $1,720,117.12. Following the transaction, the senior vice president now owns 49,099 shares of the company’s stock, valued at approximately $8,405,257.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 14,288 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $170.44, for a total transaction of $2,435,246.72. Following the completion of the transaction, the vice president now directly owns 41,428 shares in the company, valued at approximately $7,060,988.32. The disclosure for this sale can be found here. Insiders have sold 43,598 shares of company stock valued at $7,517,269 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. Scotiabank lowered their target price on Waste Management from $177.50 to $165.00 in a research report on Tuesday, October 10th. Stifel Nicolaus boosted their price target on Waste Management from $183.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and upped their target price for the stock from $170.00 to $190.00 in a research note on Monday, October 23rd. StockNews.com assumed coverage on Waste Management in a research note on Thursday, October 5th. They set a “buy” rating for the company. Finally, Oppenheimer upped their target price on Waste Management from $181.00 to $182.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.93.

Read Our Latest Report on Waste Management

Waste Management Stock Performance

NYSE WM opened at $177.75 on Thursday. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.96 and a beta of 0.70. Waste Management, Inc. has a twelve month low of $148.31 and a twelve month high of $179.50. The stock has a fifty day simple moving average of $170.48 and a 200 day simple moving average of $164.81. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.17.

Waste Management (NYSE:WM – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The business services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.02. Waste Management had a return on equity of 34.14% and a net margin of 11.47%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same period last year, the business posted $1.56 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 5.97 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. Waste Management’s dividend payout ratio (DPR) is presently 49.56%.

About Waste Management

(Free Report)

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.

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