Veracity Capital LLC Has $1.33 Million Position in Waste Management, Inc. (NYSE:WM)

Veracity Capital LLC reduced its holdings in Waste Management, Inc. (NYSE:WM) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,226 shares of the business services provider’s stock after selling 826 shares during the quarter. Veracity Capital LLC’s holdings in Waste Management were worth $1,327,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its position in Waste Management by 2.7% during the first quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock worth $438,000 after buying an additional 53 shares in the last quarter. Quent Capital LLC grew its position in Waste Management by 7.3% during the fourth quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock worth $145,000 after buying an additional 55 shares in the last quarter. Drake & Associates LLC grew its position in Waste Management by 3.4% during the fourth quarter. Drake & Associates LLC now owns 1,652 shares of the business services provider’s stock worth $296,000 after buying an additional 55 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in Waste Management by 0.6% during the first quarter. Azzad Asset Management Inc. ADV now owns 9,495 shares of the business services provider’s stock worth $2,024,000 after buying an additional 55 shares in the last quarter. Finally, Alpha Cubed Investments LLC grew its position in Waste Management by 2.9% during the fourth quarter. Alpha Cubed Investments LLC now owns 1,973 shares of the business services provider’s stock worth $353,000 after buying an additional 56 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Trading Up 0.3 %

NYSE:WM traded up $0.73 during trading hours on Thursday, hitting $210.20. 720,755 shares of the stock were exchanged, compared to its average volume of 1,702,207. The company’s 50 day moving average is $208.10 and its two-hundred day moving average is $200.54. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $84.31 billion, a P/E ratio of 34.40, a price-to-earnings-growth ratio of 2.44 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Insider Activity

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WM. CIBC lifted their price objective on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price objective on the stock. Truist Financial lifted their price objective on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a report on Friday, April 26th. Morgan Stanley lifted their price objective on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Robert W. Baird lifted their price objective on Waste Management from $214.00 to $222.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.61.

Waste Management 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.