BLB&B Advisors LLC Buys Shares of 15,987 Waste Management, Inc. (NYSE:WM)

BLB&B Advisors LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 15,987 shares of the business services provider’s stock, valued at approximately $1,844,000.

A number of other institutional investors also recently bought and sold shares of the business. Washington Trust Bank purchased a new position in Waste Management during the first quarter worth $28,000. Joseph P. Lucia & Associates LLC acquired a new position in Waste Management in the first quarter valued at $31,000. Hanson McClain Inc. boosted its holdings in Waste Management by 51.0% in the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Financial Gravity Wealth Inc. boosted its holdings in Waste Management by 133.1% in the second 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. Finally, TCI Wealth Advisors Inc. boosted its holdings in Waste Management by 108.9% in the first quarter. TCI Wealth Advisors Inc. now owns 376 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 196 shares during the last quarter. 73.43% of the stock is owned by institutional investors.

In other Waste Management news, CEO James C. Fish, Jr. sold 84,314 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the transaction, 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 SEC, which is available through this hyperlink. Also, Director Patrick W. Gross sold 289 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the transaction, the director now directly owns 53,378 shares in the company, valued at $6,331,164.58. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

WM stock opened at $118.20 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. The company has a 50-day moving average of $117.15 and a two-hundred day moving average of $107.95. Waste Management, Inc. has a 52-week low of $83.22 and a 52-week high of $119.56. The stock has a market capitalization of $50.49 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 3.21 and a beta of 0.62.

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

A number of analysts have recently issued reports on the company. CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Scotiabank initiated coverage on Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating for the company. Raymond James set a $127.00 price objective on Waste Management and gave the company a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus boosted their price objective on Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, July 8th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $113.91.

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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