Bar Harbor Wealth Management Acquires 143 Shares of Waste Management, Inc. (NYSE:WM)

Bar Harbor Wealth Management raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 27,838 shares of the business services provider’s stock after buying an additional 143 shares during the quarter. Bar Harbor Wealth Management’s holdings in Waste Management were worth $6,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Waste Management during the 4th quarter worth approximately $1,009,726,000. GAMMA Investing LLC grew its holdings in shares of Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock worth $442,038,000 after acquiring an additional 1,902,081 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Waste Management during the 4th quarter worth approximately $340,611,000. Capital Research Global Investors grew its holdings in shares of Waste Management by 250.1% during the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock worth $334,716,000 after acquiring an additional 1,184,905 shares during the period. Finally, Parnassus Investments LLC grew its holdings in shares of Waste Management by 22.5% during the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock worth $1,265,629,000 after acquiring an additional 1,151,237 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $236.82 on Friday. The business’s fifty day moving average price is $231.75 and its 200-day moving average price is $223.77. The stock has a market capitalization of $95.30 billion, a price-to-earnings ratio of 34.83, a PEG ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $242.58.

Waste Management (NYSE:WM) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.14 billion. During the same period last year, the firm earned $1.75 EPS. Waste Management’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.39%. Waste Management’s dividend payout ratio is currently 49.77%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research analyst reports. Scotiabank upped their target price on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 8th. Seaport Res Ptn upgraded Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Melius Research upgraded Waste Management to a “strong-buy” rating and set a $263.00 price target on the stock in a research note on Monday. JPMorgan Chase & Co. upgraded Waste Management from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Finally, Royal Bank of Canada upped their price target on Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.00.

Insider Buying and Selling

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president now directly owns 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.