Prospera Financial Services Inc Sells 673 Shares of Waste Management, Inc. (NYSE:WM)

Prospera Financial Services Inc lowered its holdings in Waste Management, Inc. (NYSE:WM) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,999 shares of the business services provider’s stock after selling 673 shares during the period. Prospera Financial Services Inc’s holdings in Waste Management were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC bought a new position in Waste Management in the 2nd quarter worth $25,000. Financial Gravity Wealth Inc. boosted 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 valued at $33,000 after acquiring an additional 161 shares during the last quarter. Personal Wealth Partners purchased a new stake in shares of Waste Management during the 2nd quarter valued at about $35,000. Next Capital Management LLC boosted its holdings in shares of Waste Management by 119.6% during the 2nd quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 177 shares during the last quarter. Finally, Coastal Capital Group Inc. purchased a new stake in shares of Waste Management during the 2nd quarter valued at about $39,000. 73.17% of the stock is currently owned by institutional investors.

In other news, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the sale, the chief executive officer now directly owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tara J. Hmmer sold 4,739 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $118.04, for a total transaction of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at $2,770,398.80. The disclosure for this sale can be found here. Insiders have sold 97,361 shares of company stock valued at $11,374,563 over the last three months. Insiders own 0.14% of the company’s stock.

WM has been the topic of a number of research reports. Scotiabank initiated coverage on shares of Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of Waste Management in a research note on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price on the stock. Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Oppenheimer restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $115.25.

Shares of Waste Management stock traded up $0.56 on Thursday, hitting $114.89. 61,356 shares of the company traded hands, compared to its average volume of 1,546,509. The stock has a market capitalization of $47.47 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.66 and a current ratio of 1.70. Waste Management, Inc. has a 52 week low of $83.22 and a 52 week high of $121.77. The business has a 50-day simple moving average of $117.25 and a 200 day simple moving average of $110.88.

Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 4.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.512 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 5th. Waste Management’s dividend payout ratio is currently 48.81%.

Waste Management 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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