Concurrent Investment Advisors LLC Sells 5,457 Shares of Waste Management, Inc. (NYSE:WM)

Concurrent Investment Advisors LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 21.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,981 shares of the business services provider’s stock after selling 5,457 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Waste Management were worth $4,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter worth about $31,000. Fairway Wealth LLC boosted its position in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the 2nd quarter worth about $36,000. Fairscale Capital LLC purchased a new position in shares of Waste Management during the second quarter worth approximately $39,000. Finally, Hexagon Capital Partners LLC raised its stake in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 80 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on WM. William Blair initiated coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Morgan Stanley raised their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Robert W. Baird lowered their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Oppenheimer raised their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Argus upped their price target 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. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.11.

Insider Activity

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 completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM stock opened at $218.45 on Thursday. The firm has a market capitalization of $87.68 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.26 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock’s 50-day simple moving average is $209.76 and its 200-day simple moving average is $209.06. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $1.63 EPS. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.37%. Waste Management’s payout ratio is presently 45.87%.

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.