AE Wealth Management LLC Raises Stake in Waste Management, Inc. (NYSE:WM)

AE Wealth Management LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 10.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,011 shares of the business services provider’s stock after buying an additional 1,907 shares during the period. AE Wealth Management LLC’s holdings in Waste Management were worth $2,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Krane Funds Advisors LLC purchased a new position in shares of Waste Management during the 2nd quarter worth $25,000. Howe & Rusling Inc. grew its holdings in shares of Waste Management by 139.6% during the 3rd quarter. Howe & Rusling Inc. now owns 218 shares of the business services provider’s stock worth $25,000 after purchasing an additional 127 shares during the period. Financial Gravity Wealth Inc. grew its holdings in shares of Waste Management by 133.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in shares of Waste Management by 146.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 273,777 shares of the business services provider’s stock worth $34,000 after purchasing an additional 162,829 shares during the period. Finally, Personal Wealth Partners purchased a new position in shares of Waste Management during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 73.06% of the company’s stock.

WM opened at $110.94 on Thursday. The stock’s 50-day moving average price is $113.82 and its 200 day moving average price is $114.07. Waste Management, Inc. has a 12-month low of $83.49 and a 12-month high of $121.77. The company has a current ratio of 1.86, a quick ratio of 1.82 and a debt-to-equity ratio of 1.94. The firm has a market cap of $47.10 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.09 and a beta of 0.60.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the company earned $1.15 EPS. Waste Management’s revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 4.35 earnings per share for the current year.

A number of equities analysts have recently weighed in on the company. Bank of America cut Waste Management from a “buy” rating to a “neutral” rating in a report on Friday, October 18th. Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Stifel Nicolaus set a $125.00 target price on Waste Management and gave the stock a “buy” rating in a research note on Monday, October 21st. Macquarie reissued an “outperform” rating and set a $130.00 target price on shares of Waste Management in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada set a $126.00 target price on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and an average price target of $116.82.

In other Waste Management news, VP Michael J. Watson sold 8,019 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total value of $957,468.60. Following the sale, the vice president now owns 17,254 shares of the company’s stock, valued at approximately $2,060,127.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tara J. Hmmer sold 4,739 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $118.04, for a total value of $559,391.56. Following the completion of the sale, the senior vice president now directly owns 23,470 shares in the company, valued at approximately $2,770,398.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,347 shares of company stock worth $1,585,155. 0.14% of the stock is owned by corporate insiders.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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