SVB Wealth LLC Has $3.46 Million Stake in Waste Management, Inc. $WM

SVB Wealth LLC reduced its holdings in Waste Management, Inc. (NYSE:WM) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,504 shares of the business services provider’s stock after selling 2,787 shares during the quarter. SVB Wealth LLC’s holdings in Waste Management were worth $3,456,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in WM. Boston Common Asset Management LLC boosted its position in shares of Waste Management by 12.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider’s stock valued at $12,458,000 after acquiring an additional 6,391 shares in the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Waste Management during the fourth quarter worth about $10,206,000. Principal Financial Group Inc. boosted its holdings in Waste Management by 3.1% during the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider’s stock valued at $105,776,000 after purchasing an additional 14,003 shares in the last quarter. KBC Group NV boosted its holdings in Waste Management by 16.2% during the first quarter. KBC Group NV now owns 409,741 shares of the business services provider’s stock valued at $94,155,000 after purchasing an additional 57,028 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Waste Management by 21.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 57,378 shares of the business services provider’s stock valued at $12,607,000 after purchasing an additional 10,205 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In related news, CAO John Carroll sold 1,365 shares of Waste Management stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. The trade was a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group increased their price objective on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Oppenheimer cut their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. Finally, Citigroup upped their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Stock Down 0.6%

Shares of WM opened at $217.76 on Wednesday. The company has a market capitalization of $87.04 billion, a P/E ratio of 30.84, a PEG ratio of 2.76 and a beta of 0.42. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The business’s 50 day simple moving average is $228.29 and its 200-day simple moving average is $226.90. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm posted $1.92 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.945 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is 53.54%.

About Waste Management

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.